INTERIM UPDATE (AMERICAS) – August 12, 2021
I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop during the week and is worth bringing to your attention before the week finalizes. Below is the latest addition to Tech Charts watchlist from AMERICAS equities. These charts will also be included in the weekly update.
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CRYPTOCURRENCIES – August 8, 2021
Several crypto currency pairs have completed short-term consolidations on the upside. Volatility was low. These short-term consolidations can act as bottom reversals. It is important to note that previous resistance levels will now act as support and also critical levels to manage risk. There has been few descending triangle chart patterns that were negated with upward breaks. Rather than focusing on those diagonal boundary breaks, I'm favoring the breakouts through horizontal boundaries. Read More
GLOBAL EQUITY MARKETS – August 7, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its price target measured by the symmetrical triangle. Last 3 month's price action was a choppy uptrend. The ETF is in an upward sloping channel. The lower boundary of the channel is forming support at 99.5 levels. Support area remains between 95 and 99.5 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts. The ETF is close to the upper boundary of the trend channel on daily scale price chart.
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