GLOBAL EQUITY MARKETS – December 10, 2022
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is consolidating around its 200-day average at 88.4 levels. The ETF is looking for direction. On the daily scale price action is going through low volatility condition which is usually followed by directional movement. Next week will be important in understanding the short/medium-term trend direction. Failure to recover and stabilize above the 200-day average can result in a downtrend towards 81.4 levels. Another strong daily price action towards 90 levels can start a new uptrend above the long-term average.
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GLOBAL EQUITY MARKETS – December 3, 2022
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) recovered above its 200-day average which was acting as resistance at 88.5 levels. Breakout was with a long daily candle that cleared both the trend line resistance and the 200-day average. Following two days were pullback to the broken resistance. It will be important for the ETF to hold above those levels in the rest of December. Failure to hold above 88.5 will result in a similar move we have seen in March 2022 where the ETF had few days of price action above the average and rolled over to resume its downtrend.
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CRYPTOCURRENCIES – November 27, 2022
Since the last update not much has changed on the outlook of the pairs that were covered. This update focuses on four different trade setups. In case of a change in outlook of the previously covered pairs, I will issue an interim report. For now we cover the following 4 pairs. Read More
