GLOBAL EQUITY MARKETS – March 23, 2024

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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 formed a short-term consolidation between 106.8-109 area which was broken on the upside during the week. There is no top reversal chart pattern at this stage. Uptrend is intact. During any sharp pullback 106.8-102.3 area can act as support.

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Live Webinar and Q&A with Aksel – Thursday, March 21, 2024, 8:30 am mountain

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Dear Tech Charts Members, We are continuing our Member webinar series with chart pattern reliability statistics Year to Date, for the year 2023 and past 7 years combined. We plan to have an interactive session and an open discussion to answer members' questions on different 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. Scheduled for: Thursday, March 21, 8:30 am mountain (register below) Read More

CRYPTOCURRENCIES – March 17, 2024

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BTCUSD is testing the resistance area between 65K - 68K. Breakout above the upper boundary of a rising trend channel started a runaway price movement towards the resistance area. This week's price action is not a confirmed breakout to all-time high levels. 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 towards the next resistance at 4,400 levels. Read More