GLOBAL EQUITY MARKETS – November 17, 2018
REVIEW
The benchmark for the Global Equity Markets performance, iShares MSCI All Country World Index ETF (ACWI.O) is trading below its long-term (200-day) average. Last one month's price action formed choppy and sideways consolidation. Earlier the ACWI ETF broke down its multi-month-long consolidation and ended a low volatility period. Volatility is cyclical. Low volatility begets high volatility and vice versa. Currently the ETF is consolidating its earlier sharp price decline from 75 to 66 levels. Strong resistance area is between 71 and 71.6 levels. Long-term support stands at 63 levels.
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Rectangle – Bearish Reversal
GLOBAL EQUITY MARKETS – November 10, 2018
REVIEW
The iShares MSCI All Country World Index ETF (ACWI.O) found resistance at the long-term 200-day (40-week) moving average. Last two week's price action can be a pullback to the broken support levels between 71 and 71.8. Until I see a recovery above the 200-day average, I will expect the choppy downward price action to resume. Global equities are likely to move in a wide trading range in the following weeks. Strong resistance area stands between 71 and 71.8 levels.
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