GLOBAL EQUITY MARKETS – October 12, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded strong from the support area formed by the horizontal minor support and the 200-day moving average between 72.25 and 72.5 levels. The weekly close was close to the multi-month long resistance at 74.8 levels. The ETF is still trading in a wide range and the strong resistance continues to remain at 74.8 levels. Only after a breakout above the strong horizontal resistance we will conclude the completion of a multi-month long bullish chart pattern. The right shoulder of a possible H&S continuation is now well-defined and can be labelled as a rectangle.
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GLOBAL EQUITY MARKETS – October 5, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) filled the gap between 72.5 and 73.5 area. Both the 200-day moving average and the minor high are formed support around 72.25 and 72.5 levels. The weekly close was off the lows suggesting buyers stepped in around the 200-day moving average. The ETF is still trading in a wide range and the strong resistance continues to remain at 74.8 levels. Only after a breakout above the strong horizontal resistance we will conclude the completion of a multi-month long bullish chart pattern.
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GLOBAL EQUITY MARKETS – September 28, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reversed from the strong horizontal resistance at 74.8 levels. The pullback is possibly filling the gap between 72.5 and 73.5 area. Both the 200-day moving average and the minor high are forming support around 72.25 and 72.5 levels. A long-term breakout will take place only if the ETF clears the horizontal resistance at 74.8 levels. Larger scale chart pattern can be identified as a H&S continuation. Since April 2019, the ETF is trading between 70 and 74.8 levels.
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