GLOBAL EQUITY MARKETS – July 8, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows. Last one month's sideways consolidation can become part of a pullback towards the broken resistance levels.
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GLOBAL EQUITY MARKETS – July 1, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. This week's price action was a rebound after the ETF pullback to the broken resistance/support at 93.3 levels. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows.
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CRYPTOCURRENCIES – June 25, 2023
BTC and ETH rebound sharply from strong support levels. Altcoins are still weak though many pairs remained range-bound.
