GLOBAL EQUITY MARKETS – May 29, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is resuming its uptrend after possibly completing a pullback to the symmetrical triangle. The upper boundary of a possible symmetrical triangle was breached at 95.9 levels. 95.9 will act as support during any pullback. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend. Volatility is low and usually such conditions are followed by an increase in volatility and trend period. I'm monitoring the Global benchmark to see if the last 2 month's sideways consolidation will become a bullish continuation pattern and resume the existing uptrend with a pick up in momentum.
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INTERIM UPDATE (AMERICAS) – May 28, 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 – May 22, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is resuming its uptrend after possibly completing a pullback to the symmetrical triangle. The upper boundary of a possible symmetrical triangle was breached at 95.9 levels. 95.9 will act as support during any pullback. Symmetrical triangle price target stands at 102.7 levels. Price remains above the long-term average, confirming the uptrend.
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