GLOBAL EQUITY MARKETS – February 10, 2024
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels is now followed by completion of a possible bullish flag. Larger scale H&S pattern price target for the ETF stands at 109 levels. The upper boundary of the flag at 102.3 will act as short-term support during any pullback.
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CRYPTOCURRENCIES – February 4, 2024
BTCUSD reached the upper boundary of trend channel between 47K-48K which acted as a valid resistance. 40K short-term horizontal support is still holding on a weekly closing basis. ETHUSD cleared the upper boundary of the possible rising wedge and it is also holding the support level on a weekly closing basis. Read More
GLOBAL EQUITY MARKETS – February 3, 2024
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels is now followed by completion of a possible bullish flag. This week's FED event resulted in a pullback to the upper boundary of the bullish flag at 102.3 levels. Breakout above 102.3 levels can push the ETF higher towards 109 levels. Short-term support area is between 99.5 and 102.3.
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