Rectangle – Trading Range-Bound Price Action
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SILVER
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 is from the review section of the weekly report. It is featuring SILVER prices on different time frames.
SILVER (CASH PRICE)
Silver remains range bound between 21.8 and 30 levels. A great text-book opportunity might be developing as price pulled back for couple of weeks to form the right shoulder of a possible H&S bottom. Breakout above the 200-day average changed the outlook to positive. A possible H&S bottom reversal might be completing (as can be seen on daily scale) with the neckline at 24.7 levels. Price target for the H&S bottom reversal stands at 27.7 levels.
The daily scale price chart of Silver shows much better the developing possible H&S bottom with the neckline that was acting as resistance at 24.7 levels. This was also the 200-day average. Breakout cleared both technical hurdles and now suggests higher prices. Price objective for the H&S bottom stands at 27.7 levels. The low of the right shoulder at 23 levels will act as the chart pattern negation level for the H&S bottom reversal.
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With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.
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Global Equities Report. Delivered weekly.
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Video tutorials. How patterns form and why they succeed or fail.
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GLOBAL EQUITY MARKETS – November 13, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. There is no reversal chart pattern on the daily scale price chart. This week’s price action pulled back and rebounded from the short-term support level at 105.5. Breakout above 105.5 levels resumed the existing uptrend. Previous resistance becomes the new support at 105.5 levels. Long-term average is also acting as support at 99.4 levels.
CRYPTOCURRENCIES – November 8, 2021
ETHUSD completed its multi-month long cup & handle continuation. BTCUSD might be next to breakout (confirmed) to all-time highs. There are several pairs in alt space in this report that either completed their breakouts or preparing for completion. I will keep our members posted on each breakout setup.
INDUSTRIA DE DISENO TEXTIL SA (ITX.MC)
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 is from the watchlist section of the weekly report. It is featuring INDUSTRIA DE DISENO TEXTIL SA (ITX.MC) listed on the Spanish Stock Exchange.
INDUSTRIA DE DISENO TEXTIL SA (ITX.MC)
Industria de Diseno Textil SA, known as Inditex SA, is a Spain-based company primarily engaged in the textile industry. The Company’s activities include the design, confection, manufacturing, distribution and retail of men, women and children apparel, footwear and fashion accessories, as well as home furnishings and household textile products. The stock is listed on the Spain Stock Exchange. Price chart formed a 6 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 32.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 33.10 levels will confirm the breakout from the 6 month-long cup & handle continuation with the possible chart pattern price target of 37.00 levels.
Tech Charts Membership
By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.
With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.
As a Premium Member of Aksel Kibar’s Tech Charts,
You will receive:
-
Global Equities Report. Delivered weekly.
-
Classical charting principles. Learn patterns and setups.
-
Actionable information. Worldwide indices and stocks of interest.
-
Risk management advice. The important trading points of each chart.
-
Information on breakout opportunities. Identify the ones you want to take action on.
-
Video tutorials. How patterns form and why they succeed or fail.
-
Watch list alerts. As they become available so you can act quickly.
-
Breakout alerts. Usually once a week.
-
Access to everything (now and as it becomes available)o Reports
o Videos and video series -
Multi-part webinar course. You learn the 8 most common charting principles.
-
Webinars. Actionable and timely advice on breaking out chart patterns.
For your convenience your membership auto renews each year.
GLOBAL EQUITY MARKETS – November 6, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. There is no reversal chart pattern on the daily scale price chart. This week’s price action cleared the resistance at 105.5. Breakout above 105.5 levels resumed the existing uptrend. Previous resistance becomes the new support at 105.5 levels. Long-term average is also acting as support at 99.4 levels.
TRAVELERS COMPANIES INC (TRV)
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 is from the watchlist section of the weekly report. It is featuring TRAVELERS COMPANIES INC (TRV) listed on the New York Stock Exchange.
TRAVELERS COMPANIES INC (TRV)
The Travelers Companies, Inc. is a holding company principally engaged, through its subsidiaries, in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. The stock is listed on the New York Stock Exchange. Price chart formed a 5 month-long rectangle with the horizontal boundary acting as strong resistance at 162.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 164.40 levels will confirm the breakout from the 5 month-long rectangle with the possible chart pattern price target of 177.60 levels.
Tech Charts Membership
By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.
With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.
As a Premium Member of Aksel Kibar’s Tech Charts,
You will receive:
-
Global Equities Report. Delivered weekly.
-
Classical charting principles. Learn patterns and setups.
-
Actionable information. Worldwide indices and stocks of interest.
-
Risk management advice. The important trading points of each chart.
-
Information on breakout opportunities. Identify the ones you want to take action on.
-
Video tutorials. How patterns form and why they succeed or fail.
-
Watch list alerts. As they become available so you can act quickly.
-
Breakout alerts. Usually once a week.
-
Access to everything (now and as it becomes available)o Reports
o Videos and video series -
Multi-part webinar course. You learn the 8 most common charting principles.
-
Webinars. Actionable and timely advice on breaking out chart patterns.
For your convenience your membership auto renews each year.
CRYPTOCURRENCIES – October 31, 2021
I want to start this special cryptocurrency report with couple of important points. Chart pattern price targets (especially in cryptocurrency markets) should be used as guidelines only. Price can exceed or fall short of price objective. With upside price projections, I’m taking absolute price change. With downside price projections I’m taking % change (to avoid negative number price targets). Both methods will give us conservative price targets.
There has been several major breakouts in cryptocurrencies, especially in alt space. How can we monetize on those? How can we capture those breakouts. First and foremost, a disciplined approach and a routine review of each and every chart is required to be on top of market movements. If we look, we see. If we know what we are looking for we will see it clearly.
I.e. SHIBA INU/USD had a massive move. This move started from a tight and lengthy, well-defined consolidation range.
Another great example was MATICUSD. The breakout took place after the pair consolidated in a tight and well-defined range.
The following chart feature similar tight consolidations and breakout opportunities. Some opportunities are highlighted on daily scale price chart and some are larger scale patterns so weekly scale is utilized. I hope you find these findings valuable. Updates on those opportunities will be issued in following reports.
A quick note on how to trade those breakout opportunities. The daily scale price charts need a daily close above the chart pattern boundary. The weekly scale price charts need a weekly close above the pattern boundary for breakout confirmation. However, if you are thinking that by the time that confirmation candle forms it is usually too late to get on board, an intraday entry can be utilized. Though you need to be prepared for false breakouts in such cases.
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GLOBAL EQUITY MARKETS – October 30, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an uptrend. So far the price action seems like it completed a reversion back to the mean. Strong support area remains between 98.5 and 99 levels. There is no reversal chart pattern on the daily scale price chart. Previous high is acting as resistance at 105.5 levels. If the previous high acts as resistance I will expect a consolidation range between 99 and 105.5 levels. Breakout above 105.5 levels will resume the existing uptrend.
CRYPTOCURRENCIES – October 25, 2021
All time highs acted as resistance, what is next for some of the major cryptocurrencies? Do we breakout to all-time highs and confirm or do we remain range bound for a little bit more?
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