INTERIM UPDATE – May 16, 2025
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 up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist from U.S. equities that are close to breakout confirmation levels. The charts will be discussed in the weekend report as well.
CRYPTOCURRENCIES – May 11, 2025
BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Price rebounded from long-term average. Previous resistance at 73.7K continues to act as support. Breach of 91.2K puts the price back inside the consolidation range 91.2K-109K. Price targets 109K.
GLOBAL EQUITY MARKETS – May 10, 2025
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. The 200-day average becomes the new support. I will monitor the ETF to see if it will stabilize above the long-term average in preparation of resuming higher. One thing is clear the sharp rebound from the lows is due for a short breather. The breather if it forms a higher low above the long-term average in the form of a tight consolidation will increase the conviction on bullish setup, a possible H&S pattern. For now 120 levels acts as resistance.
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