GLOBAL EQUITY MARKETS – November 18, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trying to stabilize above the 200-day average. Strong open to the week with a gap was followed by continued strength that pushed the ETF towards the minor resistance at 97.4 levels. With the recovery above the 200-day average, I start monitoring the chart with a bullish perspective. Short-term resistance is at 97.4 and support is at 94.1 level. During any pullback the ETF can fill the gap above 94.1 levels. Long-term H&S bottom price target stands at 109 levels.

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CREDIT AGRICOLE SA (CAGR.PA)

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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, Credit Agricole SA is from the watchlist section of the weekly report. It is featuring possible ascending triangle continuation.

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CRYPTOCURRENCIES – November 12, 2023

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BTCUSD reaches rectangle price target at 38K. Uptrend remains intact. ETHUSD chart is might be forming a rising wedge with the upper boundary acting at resistance at 2260 levels. ETHUSD also has a channel price target at 2260 levels, an inflection point.
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GLOBAL EQUITY MARKETS – November 11, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trying to stabilize above the 200-day average. The gap around 93 levels is filled. There is a wider gap below the 200-day average that might get filled. With the recovery above the 200-day average, I start monitoring the chart with a bullish perspective. One possibility is that the ETF can pullback to fill the larger gap and form the right shoulder of a short-term bottom reversal. The ETF can resume higher without any pullback. In that case I will continue to take breakout signals on single equities.

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INTERIM UPDATE – November 10, 2023

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During the daily charts review I came across those text-book opportunities which I think are time sensitive and fresh opportunities as breakdown candidates. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update. I also plan to add more ideas to the watchlist in the upcoming Global Equity Markets report (scheduled for 11/11/2023).

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GLOBAL EQUITY MARKETS – November 4, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) had an impressive rebound towards the 200-day average. Sharp rebound from 90 levels left few gaps that might get filled in the next few trading sessions. With the recovery above the 200-day average, I will start monitoring the chart with a bullish perspective. One possibility is that the ETF can pullback to fill the gaps and form the right shoulder of a short-term bottom reversal. Breach of a 200-day moving average both on the upside and on the downside is not a trading signal for me. I would like to see a classical chart pattern completion. The ETF can resume higher without any pullback. In that case I will continue to take breakout signals on single equities.

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CRYPTOCURRENCIES – October 29, 2023

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Bullish outlook on BTCUSD remains intact. Price cleared the resistance at 31.4K which now becomes a strong support. H&S bottom reversal which had the neckline at 25K met its price objective at 34K. A possible rectangle might be in play with the price target of 38K. ETHUSD chart is possibly morphing with a possible channel on daily scale price chart.
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GLOBAL EQUITY MARKETS – October 28, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to recover above 93 levels which is now resulting in further weakness below the long-term average. Minor low at 90.2 broke down. Resistance area is between 90.2 and 92.77 levels. Before we see a recovery above the 200-day average, I will monitor Global Equity benchmark with a bearish view, possibly entering into a larger scale correction. The low of the right shoulder will act as the chart pattern negation level for the 10 month-long H&S bottom.

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GLOBAL EQUITY MARKETS – October 21, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded towards the resistance at 93 levels. Previous support at 93 levels acted as resistance. The ETF failed to recover above 93 levels which is now resulting in further weakness below the long-term average. Minor low at 90.2 can act as short-term support. Before we see a recovery above the 200-day average, I will monitor Global Equity benchmark with a bearish view, possibly entering into a larger scale correction.

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INTERIM UPDATE – October 19, 2023

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During the daily charts review I came across those text-book opportunities which I think are time sensitive and fresh opportunities as breakdown candidates. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.

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