GLOBAL EQUITY MARKETS – July 24, 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. A pullback towards the long-term average will still not challenge the uptrend and positive outlook. Support area remains between 94.1 and 96 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts.
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INTERIM UPDATE (AMERICAS) – July 23, 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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GLOBAL EQUITY MARKETS – July 17, 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 that possibly formed a rising wedge. It is one the least reliable chart pattern for me. Though the appearance of the rising wedge could be signaling weakness and loss of upward momentum and can result in a correction towards the 200-day average. A pullback towards the long-term average will still not challenge the uptrend and positive outlook. Support area remains between 93.7 and 96 levels.
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