GLOBAL EQUITY MARKETS – January 4, 2025
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is trying to find support between 114.52 and 116.7. The lower boundary of the upward sloping channel at 120 levels broke down with gap opening. While the uptrend is intact and the ETF is above the 200-day average, price action can remain weak and volatile in the short-term. Several technical support levels are overlapping between 114.52 and 116.7 area. One possibility is the developing and completion of the H&S top if the support area is broken down. Strength from current levels and a breach above 120.3 levels can result in a H&S top failure and resume the uptrend.
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NEW YEAR’S GREETINGS
Dear Tech Charts members,
I would like to take this opportunity to express my appreciation for the past year, our communication, exchange of ideas, the growth and the knowledge gained from our experiences. My motivation with Tech Charts service continues to be adding value to your decision making and shorten your learning curve in classical charting and technical analysis. 2025 will have more interaction, be it through live Breakout Rooms or educational videos and interactive blog posts/learning materials. I hope to continue serving our members and look forward to growing together in the coming year. Wishing you a healthy and prosperous New Year.
Aksel Kibar, CMT
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GLOBAL EQUITY MARKETS – December 28, 2024
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is pulling back to strong support area between 114.39 and 116.7. The lower boundary of the upward sloping channel at 120 levels broke down with gap opening. While the uptrend is intact and the ETF is above the 200-day average, price action can remain weak and volatile in the short-term. Several technical support levels are overlapping between 114.39 and 116.7 area. One possibility is the developing and completion of the H&S top if the support area is broken down. So the pullback can be analyzed as a reversion to the mean (the 200-day average).
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