CRYPTOCURRENCIES – July 24, 2023
BTC and ETH are holding to their earlier gains. Possible bull flag on BTCUSD can resume existing uptrend.
GLOBAL EQUITY MARKETS – July 22, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The ETF formed a month-long bullish pennant and with last week’s strong move completed the bullish continuation chart pattern, targeting 101 levels possibly as the first objective. During any pullback strong support area remains between 93.3 and 96 levels.
INTERIM UPDATE – July 21, 2023
I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.
SPDR DJI Average ETF (DIA)
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, SPDR DJI Average ETF is from the review section of the weekly report. It is featuring a possible developing head and shoulder continuation chart pattern.
GLOBAL EQUITY MARKETS – July 15, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The ETF formed a month-long bullish pennant and with this week’s strong move completed the bullish continuation chart pattern, targeting 101 levels possibly as the first objective. During any pullback strong support area remains between 93.3 and 96 levels.
CRYPTOCURRENCIES – July 9, 2023
BTC and ETH are holding to their earlier gains. Possible bull flag on BTCUSD can resume existing uptrend.
RUSSELL 2000 INDEX (.RUT)
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Russell 2000 INDEX is from the review section of the weekly report. It is featuring a rectangle chart pattern acting as a bottom reversal on daily scale price chart.
GLOBAL EQUITY MARKETS – July 8, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows. Last one month’s sideways consolidation can become part of a pullback towards the broken resistance levels.
CURTISS-WRIGHT CORP (CW)
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Curtiss-Wright Corporation is from the watchlist section of the weekly report. It is featuring a rectangle chart pattern that can act as a bullish continuation.
GLOBAL EQUITY MARKETS – July 1, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. This week’s price action was a rebound after the ETF pullback to the broken resistance/support at 93.3 levels. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows.
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