The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O), is now very close to a horizontal resistance at 74.8 levels. Given the magnitude of the strong rebound and the steady rise without any pullback, one can’t rule out the possibility of a breather/pause around the resistance at 74.8 levels. If we see a pullback, the 200-day moving average which is currently at 70.6 levels can act as support.
I discussed some of the important charts I’ve been following in India equity, FX and bond markets. India has been outperforming the Emerging Markets. With the index pushing to all-time highs, we can expect similar strength to continue. Below you can find my interview on ET Now and also the charts I discussed during the interview.
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is now close to a horizontal resistance at 74.8 levels. The ETF had a strong rebound from 63 levels. The V-bottom reversal was followed by the ETF clearing its long-term moving average in February. Since then the ACWI ETF has been trending above its long-term average. I consider price action above the long-term average as positive and classify it as an uptrend. Though it is important to note that, last few month’s price action has been steep and such steep advances are not sustainable. During any setback the long-term moving average at 70.45 levels will act as support. Short-term resistance stands at 74.8 levels.
Dear Tech Charts Members,
We are continuing our Member webinar series with inverse H&S chart pattern that acts as a bottom reversal and also as a continuation. Over the past few weeks Global equity markets report identified some well-defined and mature H&S bottom reversals and H&S continuation chart patterns. I hope to highlight differences between these two types of bullish chart patterns and discuss how they develop in the general context of overall price action.
Scheduled for: Thursday, April 18 at 8:30am MST (register below)
The upcoming webinar is dedicated to a thorough discussion on inverse head and shoulder (reversal) and bullish H&S continuation.
A short-term bullish opportunity might be developing in Energy sector equities in Global markets. Last week’s Global Equity Markets report featured SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF (XOP). This interim update adds few more well-defined horizontal chart pattern setups that can resolve on the upside. Breakouts from these consolidations can add momentum to Energy related equities.
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 and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section iShares MSCI Frontier 100 Index ETF (FM).
The benchmark for the Frontier markets, the iShares MSCI Frontier 100 ETF (FM) is possibly forming a symmetrical triangle that will act as a launching pattern for the H&S bottom reversal. The symmetrical triangle is forming around the 200-day moving average, a setup that I usually look for. Completion of the month-long symmetrical triangle will push the price above the long-term average and also clear the horizontal resistance (neckline for H&S bottom) at 29 levels. (Data as of 6:00 pm CET /April 9, 2019)
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.
You will receive:
For your convenience your membership auto renews each year.
The benchmark for Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continues to remain strong. The ETF had a strong rebound from support at 63 levels and since then the uptrend resumed without any significant setback. In February the ETF cleared its 200-day moving average and continues to trend above its long-term average. In the short-term horizontal resistance at 74.8 levels can act as an overhead supply. Strong support is the 200-day average at 70.3 levels.
You don’t have access to view this content
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 and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section iShares MSCI Emerging Markets Index ETF (EEM).
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trying to find direction above its long-term average. We can see choppy price action around the 200-day average. More important is how the index will consolidate around the average. If it forms an orderly, recognizable short-term consolidation (in the form of a flag, pennant, rectangle, symmetrical triangle) I will conclude that the index is preparing for a new leg up. 200-day moving average is forming support at 70.15 levels.
