GLOBAL EQUITY MARKETS – December 9, 2017
REVIEW
After breaking out to all-time highs in the beginning of 2017, UK FTSE 100 Index is still looking for direction as the last several-months price action formed a possible bullish continuation chart pattern. 7 month-long sideways consolidation can be identified as a possible ascending triangle with the lower boundary acting as support at 7,300 and the upper boundary as resistance at 7,600 levels. The upward sloping lower boundary and the horizontal upper boundary gives the chart pattern its bullish bias, suggesting buyers are able to bid the price higher at every pullback. Latest correction not only found support at the lower boundary of the possible ascending triangle but also at the long-term 200 day (40 week) moving average. If the support at 7,300 level holds, we can expect a rebound towards 7,600 levels.
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Live Webinar and Q&A with Aksel – Thursday, December 14, 11am mountain
As you all know one of my favorite chart patterns is a rectangle. A rectangle is a chart pattern with horizontal boundaries. I prefer breakouts from chart patterns with horizontal boundaries when compared with breakouts from diagonal chart patterns. Over the past couple of months the Global Equity Markets report has featured great chart setups that I identified as well-defined rectangles.
The upcoming webinar is dedicated to a thorough discussion on this highly reliable chart pattern.
- We will review some of those chart pattern breakouts that were featured in the Global Equity Markets report.
- We will look at some of the developing chart pattern breakout opportunities.
- Most important in this webinar we will highlight Tech Charts members favorite rectangle setups in different equity markets. I would like to discuss and share some of the best classical chart patterns that members identified or those charts that members might have questions about.
- As usual we will have a member Q&A at the end of the webinar.
GLOBAL EQUITY MARKETS – December 2, 2017
REVIEW
The XAU is a capitalization-weighted index of thirty precious metal mining companies that has been traded on the Philadelphia Stock Exchange since 1983. As its name suggests it includes both gold and silver mining companies. In order to track gold and silver mining companies performance in an index there are several options available for investors, but the two most watched indices are: the NYSE Arca Gold BUGS (Basket of Unhedged Gold Stocks) Index (called the HUI Index) and Philadelphia Gold and Silver Index (called the XAU Index). Below charts feature the Philadelphia Gold and Silver Index and the NYSE Arca Gold BUGS Index.
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