GLOBAL EQUITY MARKETS – August 10, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found support at the minor low at 70 levels. Mid-week Interim Update discussed the possibility of a rebound. The reversal from 70 levels filled the gap. This week's close was at the 200-day average. The ETF is possibly forming a new trading range between 70 and 74.8 levels. Breakdown below 70 levels can result in further weakness.
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INTERIM UPDATE – August 7, 2019
As the trade war tensions between U.S. and China escalated, volatility in Global equity markets increased. Given the levels the major Global ETFs are testing, I think a mid-week update would be helpful to put the current status of the markets into perspective.
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GLOBAL EQUITY MARKETS – August 3, 2019
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to break above the strong horizontal resistance once again. Failure to break above the strong resistance resulted in a pullback towards the long-term average at 72 levels. On Friday the ETF tested the 200-day and closed the day off its lows. If we see the price stabilizing above the support at 72, the new trading range can become 72 and 74.8. Failure to hold above the 200-day can result in a larger scale correction. Next support is at 70 levels.
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