INTERIM UPDATE – August 19, 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 two days. These charts will also be included in the weekly update. (Data as of August 19, 2002, CET 21:00 PM)
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GLOBAL EQUITY MARKETS – August 15, 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 73.7 levels. Breakdown below the lower boundary of possible trend channel can result in a pullback towards the 200-day average at 73.7 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 73.7 levels. Pre-pandemic high stands at 82 levels, which is the next important resistance.
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GLOBAL EQUITY MARKETS – August 8, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared its short-term consolidation on the upside. 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 73.3 levels. Breakdown below the lower boundary of possible trend channel can result in a pullback towards the 200-day average at 73.3 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 73.3 levels. Pre-pandemic high stands at 82 levels, which is the next important resistance.
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