GLOBAL EQUITY MARKETS – November 24, 2018
REVIEW
The longer the price remains below the long-term averages the more established that downtrend will become. The benchmark for the Global Equity Markets performance, iShares MSCI All Country World Index ETF (ACWI.O) broke down the lower boundary of its multi-month long consolidation and its long-term average around same time. Sharp sell-off was followed by a pullback to the chart pattern boundary. This week's price action resumed the downtrend. The minor low around October lows (66) will act as short-term support. Breakdown below the October lows can send the ACWI ETF towards the next support level at 63 levels. Strong resistance area remains between 71 and 71.5 levels. Until we see a recovery above the resistance area (71-71.5), we will expect the weakness to resume in the Global Equity Markets.
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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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