Live Webinar and Q&A with Aksel – Thursday, December 5, 2024, 8:30 am Mountain

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Dear Tech Charts Members, We continue our Member webinar series with chart pattern reliability statistics for the Year to Date and past 7 years. We plan to have an interactive and open discussion session to answer members' questions on markets and specific charts of interest. Please send your charts and questions to aksel@techcharts.net, and I will add them to the webinar discussion points. We discuss specifically rectangle and H&S continuation chart patterns and how to take advantage of breakouts. Scheduled for: Thursday, December 5, 8:30 am Mountain (register below) Read More

GLOBAL EQUITY MARKETS – November 30, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 113 and 116.7. Short-term support is the horizontal pattern boundary at 116.7 levels. Uptrend is intact. The ETF continues to remain sideways above the horizontal support at 116.7 levels. Breakout above the minor high at 121.85 can resume the uptrend towards the cup & handle price objective.

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CRYPTOCURRENCIES – November 24, 2024

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BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Monitoring the chart for a strong monthly close and a breakout signal on long-term charts.  ETHUSD breaks the upper boundary of its short-term consolidation at 2,800 levels and pushes above the year-long average though still way below 4,000 levels. ETHBTC accelerates lower. Breakdown below the horizontal support is resulting in ETH underperformance. Read More