INTERIM UPDATE – January 11, 2018
Several Basic Materials stocks are performing well with strong breakouts from lengthy consolidation ranges. January 6, 2018 Global Equity Markets report featured Metalurgica Gerdau SA that is listed in Brasil. The stock is dual listed via depository receipt on the New York Stock Exchange. This week's strong price action is completing the multi-month long bullish continuation chart patterns on both listings. This interim update added the NYSE listing.
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GLOBAL EQUITY MARKETS – January 6, 2018
Announcement: I will be speaking at the Dubai Traders Summit organized by MetaStock on April 26th. Over the past decade I worked for institutions in the region, managing funds & portfolios as well as analyzing Emerging and Frontier markets. At this one day event I hope to connect with Tech Charts members & followers, ex-colleagues and fellow traders to discuss some of the best classical chart patterns that helped me in making trading and investment decisions. Registration is free. You can follow this link to register >> DUBAI TRADERS SUMMIT APRIL 26th.
REVIEW
Global Equity Markets started the new year on a high note. Back to back gains pushed the iShares MSCI All Country World Index towards the upper boundary of its upward trend channel. Strong uptrend remains intact. If the year-long upward trend channel is valid, the upper boundary can act as a short-term resistance. There is no chart pattern that would suggest a trend reversal at this point.
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INTERIM UPDATE – January 4, 2018
Over the past few months Tech Charts Global Equity Markets report analyzed the Europe's EURO STOXX BANKING INDEX and discussed the possibility of a sideways consolidation that can be identified as a 7 month-long symmetrical triangle. The index remained in a tight range for the past months. 2017 ended with the Euro Stoxx Banking index testing the lower boundary of its multi-month consolidation and the 200-day (40 week) moving average at 129 levels.
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