GLOBAL EQUITY MARKETS – September 3, 2022

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Breakout above 87 levels completed a short-term double bottom and the ETF reached the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. The ETF failed to hold above the neckline at 87 levels. There is still the possibility of a H&S bottom reversal, though not with the symmetry between shoulders. Given the weakness below 87 levels, I view the H&S bottom as a lower probability. Price can test the previous low around 81.4 levels. Downtrend is intact below the 200-day average.

 

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CRYPTOCURRENCIES – August 31, 2022

Several pairs remain range-bound while BTCUSD continues to trend lower after the breakdown of the possible bear flag. In this update we review some of the well-defined horizontal consolidations.
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GLOBAL EQUITY MARKETS – August 27, 2022

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. A text-book H&S bottom reversal can develop if the index completes its pull back around 87 levels to form the possible right shoulder. Such price action will form symmetry between left and right shoulders in both time and price scale. I’m now monitoring how the ETF will perform around 87 levels; the neckline of the previous double bottom.

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CRYPTOCURRENCIES – August 21, 2022

Mixed performance for cryptocurrencies. Sharp reversal on BTCUSD reminds us the bearish outlook once again. Some of the altcoins managed to offer short-term uptrends while others continued to remain rangebound.

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GLOBAL EQUITY MARKETS – August 20, 2022

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.4 levels. Price target for the short-term double bottom was met. A text-book H&S bottom reversal can develop if the index pulls back towards 87 levels to form the possible right shoulder. For now I monitor the price action around the 200-day average.

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CANDLESTICK PATTERNS AT SUPPORT & RESISTANCE

Are you familiar with those candlestick patterns? Candlestick patterns at well-defined support & resistance areas can offer great insight and can become part of a successful trading strategy. Formation of those reversal candlesticks can offer good levels to measure risk/reward and act on a possible swing trade opportunity.

I continue to add new features to Tech Charts membership service. This latest educational video has interactive components where you can pause, answer questions and make sure that the learning experience becomes memorable and fun.

I hope you enjoy it.

 


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GLOBAL EQUITY MARKETS – August 13, 2022

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.5 levels. Price target for the short-term double bottom was met during the week. A text-book H&S bottom reversal can develop if the index pauses around the 200-day average and pulls back to form the possible right shoulder. For now I monitor the price action around the 200-day average.

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H&S CONTINUATION PATTERN

One of the common discussions start with the validity of such pattern… There is a common misconception regarding the continuation type H&S pattern.

Yes, it exists and it is a reliable chart pattern.

Let’s dive into this frequently identified chart pattern…

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CRYPTOCURRENCIES – August 7, 2022

I will start this week’s update with an exciting opportunity from altcoins and then we will continue with the updates on other pairs. The opportunity is on a weekly scale and has the potential of breaking out to all-time highs from a well-defined ascending triangle.

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GLOBAL EQUITY MARKETS – August 6, 2022

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Price rebounded from the previous low at 81.4 levels. Breakout above 87 levels completed a possible short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.5 levels. So far price action is reversion to the mean.

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