GLOBAL EQUITY MARKETS – March 28, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) had a sharp rebound. 61 levels was the low that was recorded in late 2018. 64 levels is the lower boundary of a possible upward trend channel. Support area between 61-64 area was broken down and now it is acting as resistance during the rebound. The minor low of 2016 stands as the next support at 49 levels. I will continue to monitor short-term price charts for a possible bottom reversal chart pattern. Patterns I'm looking for are double bottom, rectangle and H&S bottom. A re-test of the lows or another down leg to test 49 levels can offer a short/medium-term bottom opportunity.
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Live Webinar and Q&A with Aksel – Thursday, March 26, 8:30 am mountain
Dear Tech Charts Members,
We are continuing our Member webinar series with a review of 4 types of breakouts. Type 1 are breakouts that immediately rally to price target. Type 2 are breakouts that pullback to chart pattern boundary after the breakout but do not challenge the previously broken support/resistance. These two breakouts are relatively easier to manage when compared with the breakouts that experience a hard re-test (penetrating the chart pattern boundary after a breakout) and those that fail (Type 3 & Type 4).
We will review all 4 types of breakouts with recent examples and discuss strategies to manage each condition.
Scheduled for: Thursday, March 26th, 8:30 am mountain (register below)
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GLOBAL EQUITY MARKETS – March 21, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after testing its 200-day average for a very short period, resumed its downtrend. Sharp sell-offs can be followed by sharp rebounds. It is important where the next consolidation is going to take place. So far the ETF experienced sharp sell-off with out any rebound. Support area between 61-64 area is broken down and will act as resistance during any rebound. The minor low of 2016 stands as the next support at 49 levels. I will continue to monitor short-term price charts for a possible bottom reversal chart pattern. Patterns I'm looking for are double bottom, rectangle and H&S bottom.
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