GLOBAL EQUITY MARKETS – August 29, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its uptrend. Last three month's price action can be identified as a rising channel. Price is trying to remain inside the trend channel and so far the price remained above the 200-day average. Uptrend is intact. The 200-day moving average is forming support at 74.4 levels. Breakdown below the lower boundary of possible trend channel can result in a pullback towards the 200-day average at 74.4 levels. Volatility is low and we can expect another trend period soon. If it is a correction with the breakdown of the trend channel, it should develop fast, towards 74.4 levels. The ETF breached its pre-pandemic high at 82 levels. Though it could be early to call this a breakout.
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INTERIM UPDATE – August 25, 2020
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 are latest additions to Tech Charts watchlist that may experience breakouts over the next few trading days. These charts will also be included in the weekly update. (Data as of August 25, 2002, CET 13:05 PM)
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GLOBAL EQUITY MARKETS – August 22, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its uptrend. Last three month's price action can be identified as a rising channel. Price is trying to remain inside the trend channel and so far the price remained above the 200-day average. Uptrend is intact. The 200-day moving average is forming support at 74 levels. Breakdown below the lower boundary of possible trend channel can result in a pullback towards the 200-day average at 74 levels. Volatility is low and we can expect another trend period soon. If it is a correction with the breakdown of the trend channel, it should develop fast, towards 74 levels. Pre-pandemic high stands at 82 levels, which is the next important resistance.
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