GLOBAL EQUITY MARKETS – October 7, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) breached the support formed by the 200-day average and the horizontal support at 93 levels. Friday's sharp rebound closed around the 200-day average and the previous support which is now the resistance at 93 levels. Failure to recover above 93 levels can result in further weakness below the long-term average. A sharp recovery above 93 levels can result in a bear trap and resume the uptrend on the Global Equity benchmark.
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CRYPTOCURRENCIES – October 1, 2023
Bullish outlook on BTCUSD remains intact. Important support level at 25K level. A re-test of 28K levels can increase the likelihood of a bottom reversal, possibly a double bottom. ETHUSD chart is possibly morphing with not a clear chart pattern development at this stage. Read More
GLOBAL EQUITY MARKETS – September 30, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is testing its 200-day average and the horizonal support at 93 levels. It could still be early to call this week's price action as a breakdown but clearly price action is showing weakness. Unless we see a quick recovery above 93 levels in the following week, the ETF can establish a downtrend below the 200-day average. Before I call this a change of trend from up to down, I would like to see few more daily closes below the long-term average. A sharp recovery and stability above the 200-day average can still be considered as part of a reversion to the mean.
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