GLOBAL EQUITY MARKETS – March 9, 2024
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. Global Equity benchmark is now testing a resistance area. 106.8-109 area can act as resistance and pause the existing uptrend. There is no top reversal chart pattern at this stage. During any sharp pullback 106.8-102.3 area can act as support.
INTERIM UPDATE – March 7, 2024
I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.
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CRYPTOCURRENCIES – March 3, 2024
BTCUSD cleared the upper boundary of trend channel and once again tested the 65K resistance. Breakout above the upper boundary of a rising trend channel started a runaway price movement towards 65K. ETHUSD cleared the upper boundary of the possible rising wedge, held the support level and now accelerating the uptrend with long back to back white candles. Read More
