CRYPTOCURRENCIES – August 21, 2022
Mixed performance for cryptocurrencies. Sharp reversal on BTCUSD reminds us the bearish outlook once again. Some of the altcoins managed to offer short-term uptrends while others continued to remain rangebound.
GLOBAL EQUITY MARKETS – August 20, 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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.4 levels. Price target for the short-term double bottom was met. A text-book H&S bottom reversal can develop if the index pulls back towards 87 levels to form the possible right shoulder. For now I monitor the price action around the 200-day average.
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GLOBAL EQUITY MARKETS – August 13, 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. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average is acting as resistance at 93.5 levels. Price target for the short-term double bottom was met during the week. A text-book H&S bottom reversal can develop if the index pauses around the 200-day average and pulls back to form the possible right shoulder. For now I monitor the price action around the 200-day average.
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