GLOBAL EQUITY MARKETS – June 24, 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 pullback to the broken resistance at 93.3 levels. Previous resistance at 93.3 levels becomes the new support. It will be important for the ETF to stabilize above the support area to resume its uptrend. So far price action from October lows can be identified as an uptrend with higher lows.
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GLOBAL EQUITY MARKETS – June 17, 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. The gap was filled during the recent pullback. The ETF started trending higher and quickly moving away from the support area. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Previous resistance at 93.3 levels becomes the new support.
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CRYPTOCURRENCIES – June 11, 2023
Pullbacks on BTC and ETH reached strong support levels. Altcoins are weak and showing further weakness with recent breakdowns.
