GLOBAL EQUITY MARKETS – October 1, 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 91.2 levels. Breakdown below 81.4 levels was with a gap opening. If the range between 81.4 and 92.7 levels act as bearish rectangle, price target for the downtrend will stand at 72 levels. 81.4 level becomes the new resistance. Recovery above 81.4 levels can result in a failed breakdown. So far the ETF didn't have the momentum for a counter-trend move to fill the gap. If it is a breakaway gap, it might not get filled.
Read More
CRYPTOCURRENCIES – September 29, 2022
Volatility is low on many pairs suggesting directional movement soon. Many alt coins have been consolidating in tight ranges with well-defined chart patterns. Below is a review of the latest chart pattern developments. There might be many more pairs that are of interest to our members. Please feel free to pass along those that you want me to analyze under this post (DISQUS section). I welcome our members to comment with their charts/opinions as well. Read More
200 DAY MOVING AVERAGE & CHART PATTERNS
Chart patterns do not form frequently on price charts. If you find yourself looking for a chart pattern on a specific chart of your interest, pause for a second and remind yourself that the longer you search for a pattern the higher the chances that you will see some sort of a pattern that actually is not a valid pattern.
How do we overcome this "over-analysis"? We set certain criteria before we even start looking for chart patterns. Read More
