Live Webinar and Q&A with Aksel – Thursday, December 12, 8:30 am mountain
Global Equity Markets report started focusing on shorter-term time frame chart pattern developments as well as long-term patterns. Short-term chart patterns are those that cover anything from 1 month to 3 months (according to Tech Charts Research), whereas longer-term patterns are from 4 months to 24 months. Short-term chart patterns are featured on daily scale price charts, and it is important to see and understand the price dynamics of those in comparison with weekly scale breakouts. We will dedicate this webinar to several short-term examples on different chart patterns such as cup & handle, ascending triangle, descending triangle, rectangle, H&S bottom, and compare those with similar developments on weekly scale price charts. I hope to touch on risk-reward, price target calculations, and breakout confirmation levels on all those chart pattern breakout examples.
Scheduled for: Thursday, December 12, 8:30 am mountain (register below)
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GLOBAL EQUITY MARKETS – December 7, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 77.5 levels. Last week's bearish shooting star candlestick pattern proved to be a short-term correction signal. Following a quick sell-off (intra-week) the ETF recovered to test its previous high.
Is the short-term correction over? Read More
GLOBAL EQUITY MARKETS – November 30, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 77.5 levels. This week's price action formed a shooting star candlestick around the resistance area. The shooting star is common candlestick that indicates the potential for a bearish reversal. This candlestick is characterized by a small body with a long upper wick and a short or nonexistent lower wick. In order to be classified as a shooting star, the upper wick of the candlestick should be at least twice as long as its body. The shooting star candlestick looks very similar to the inverted hammer candlestick. The defining difference is that shooting stars are bearish reversal signals at the top of of uptrends, while inverted hammers are bullish reversal signals at the bottom of downtrends.
The 5 month-long rectangle price target stands at 79.6 levels. Breakout above the minor resistance can push the ETF towards the price target at 79.6. Both the daily and weekly price charts show a steady uptrend. Unless we see a strong breakout above this week's high, ACWI ETF can trade between 74.8 and 77.5 levels in the following weeks.
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