ITALY FTSE MIBTEL INDEX (.MIBTEL)

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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, Italy FTSE MIBTEL Index is from the review section of the weekly report. It is featuring a possible H&S continuation setup that is ready for breakout after several tests of pattern boundary.

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GLOBAL EQUITY MARKETS – January 11, 2025

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is testing support area between 114.6 and 116.7. The lower boundary of the upward sloping channel at 120 levels broke down with gap opening. While the uptrend is intact and the ETF is above the 200-day average, price action can remain weak and volatile in the short-term. Several technical support levels are overlapping between 114.6 and 116.7 area. One possibility is the developing and completion of the H&S top if the support area is broken down. Strength from current levels and a breach above 120.3 levels can result in a H&S top failure and resume the uptrend. Breakdown of the support area (I would like to see a decisive close below the 200-day average to confirm the H&S top) can target 110.5 levels.

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CRYPTOCURRENCIES – January 5, 2024

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BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price is consolidating earlier gains. The daily scale chart is headed for a short-term H&S top failure if price can clear 100K. ETHUSD breaks the upper boundary of its short-term consolidation at 2,800 levels and pushes above the year-long average though still hasn’t cleared the 4,000 levels.
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GLOBAL EQUITY MARKETS – January 4, 2025

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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 find support between 114.52 and 116.7. The lower boundary of the upward sloping channel at 120 levels broke down with gap opening. While the uptrend is intact and the ETF is above the 200-day average, price action can remain weak and volatile in the short-term. Several technical support levels are overlapping between 114.52 and 116.7 area. One possibility is the developing and completion of the H&S top if the support area is broken down. Strength from current levels and a breach above 120.3 levels can result in a H&S top failure and resume the uptrend.

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NEW YEAR’S GREETINGS

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Dear Tech Charts members,

I would like to take this opportunity to express my appreciation for the past year, our communication, exchange of ideas, the growth and the knowledge gained from our experiences. My motivation with Tech Charts service continues to be adding value to your decision making and shorten your learning curve in classical charting and technical analysis. 2025 will have more interaction, be it through live Breakout Rooms or educational videos and interactive blog posts/learning materials. I hope to continue serving our members and look forward to growing together in the coming year. Wishing you a healthy and prosperous New Year.

Aksel Kibar, CMT

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GLOBAL EQUITY MARKETS – December 28, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is pulling back to strong support area between 114.39 and 116.7. The lower boundary of the upward sloping channel at 120 levels broke down with gap opening. While the uptrend is intact and the ETF is above the 200-day average, price action can remain weak and volatile in the short-term. Several technical support levels are overlapping between 114.39 and 116.7 area. One possibility is the developing and completion of the H&S top if the support area is broken down. So the pullback can be analyzed as a reversion to the mean (the 200-day average).

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CRYPTOCURRENCIES – December 22, 2024

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BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price is consolidating earlier gains.  ETHUSD breaks the upper boundary of its short-term consolidation at 2,800 levels and pushes above the year-long average though still hasn’t cleared the 4,000 levels.
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GLOBAL EQUITY MARKETS – December 21, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is pulling back to strong support area between 114.18 and 116.7. The lower boundary of the upward sloping channel at 120 levels broke down with gap openings. While the uptrend is intact and the ETF is above the 200-day average, price action can remain weak and volatile in the short-term.

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GLOBAL EQUITY MARKETS – December 14, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 113.93 and 116.7. Short-term support is the lower boundary of the upward sloping channel at 120 levels. Uptrend is intact. The ETF continues to remain in a rising trend channel with higher highs and higher lows. Breakout above the minor high at 121.85 is resuming the uptrend towards the cup & handle price objective.

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YTD 2024 review with a focus on H&S continuation and Rectangles December – December 2024 Tech Charts Member Webinar

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YTD 2024 review with a focus on H&S continuation and Rectangles December – December 2024 Tech Charts Member Webinar

Webinar Outline

  • Review of chart pattern statistics and discussion on chart pattern reliability covering the YTD numbers and 7-year historical stats 3:16
  • Rectangle and H&S continuation chart patterns in focus
  • Review of global equity markets and latest opportunities
  • Review of opportunities in the cryptocurrency markets
  • How to navigate the website 34:17
  • Markets of Interest 45:59
  • Q&A (questions that were submitted before the webinar) 1:02:54
    • How to apply trailing stop-loss in a breakout 1:17:08

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