CRYPTOCURRENCIES – November 13, 2022
A volatile week that was driven by the unfortunate events that unfolded around FTX. Many charts had bearish setups prior to the FTX collapse. Markets have always been a discounting mechanism. Most of the bearish setups completed with this week's sell-off. Now our focus is on those support levels that are likely to act as resistances. Let's review our charts. Read More
GLOBAL EQUITY MARKETS – November 12, 2022
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.1 levels. The ETF recovered above 81.4 levels. Downtrend is intact. March and August were two other times the ETF tested its 200-day average in a downtrend. I will monitor the price action around the long-term average. 88.1-90 area is the resistance. Breakout above that range can change the outlook to positive for Global equities.
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GLOBAL EQUITY MARKETS – November 5, 2022
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average which is acting as resistance at 88.9 levels. The ETF recovered above 81.4 levels. Downtrend is intact. I'm still not seeing a well-defined reversal chart pattern to call for a bottom reversal.
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