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GLOBAL EQUITY MARKETS – February 23, 2019

REVIEW


The benchmark for the Global equity markets performance the iShares MSCI All Country World Index ETF is testing the resistance level at 71.3 levels. Since the beginning of the year the ETF had a strong run towards the 200-day moving average. Over the past two weeks the ETF cleared its long-term average. If there is a pullback, the 200-day moving average will act as a support around 69.7 levels. Price action above the long-term average should be considered bullish and could signal a change in trend.

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GLOBAL EQUITY MARKETS – February 16, 2019

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF had another strong week pushing the ETF above its 200-day (40-week) moving average. Back to back weekly gains followed the V-bottom reversal from the support level at 63. I think we are likely to see some sort of consolidation around the long-term average. Given the uninterrupted advance from January lows, a short-term pullback can possibly form the right shoulder of a H&S bottom formation. Please note it is still early to call for such development. I want to highlight this possibility as many other benchmarks are forming similar structures. For a good example of a consolidation around the long-term average, you can check the H&S bottom formation in 2016.

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GLOBAL EQUITY MARKETS – February 9, 2019

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O), found resistance at the 200-day moving average. After a sharp rebound from the support area (63 levels), the long-term 200-day moving average was the first important resistance the ETF faced. During any consolidation around the 200-day average or during a pullback, I will be looking for a bullish continuation chart pattern development. For bullish interpretation and a reversal of the downtrend, I would like to see the ETF stabilizing above its long-term average. A good example is the first half of 2016...

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ENTRA ASA (ENTRA.OL)

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section ENTRA ASA, listed on the Oslo Stock Exchange.

ENTRA ASA (ENTRA.OL)

Entra ASA (Entra) is a Norway-based real estate company. It is engaged in development, letting and management of energy efficient buildings. Its portfolio comprises over 100 buildings with a total area of more than 1.3 million square meters and focus on office real estate in central locations. The stock is listed on the Oslo Stock Exchange. Price chart formed a year-long ascending triangle with the horizontal boundary acting as strong resistance at 124 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 127.5 levels will confirm the breakout from the year-long ascending triangle with the possible chart pattern price target of 142 levels. Breakout can push the stock to all-time highs. Breakout from bullish chart patterns to all-time highs is the path of least resistance. (Learn more: Video Tutorial)

A short video tutorial on ascending triangle as a bullish continuation chart pattern


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GLOBAL EQUITY MARKETS – February 2, 2019

REVIEW


The benchmark for the Global Equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its 200-day moving average after a strong rebound from the support at 63 levels. Back to back weekly gains pushed the index towards the resistance level I follow and utilize as a trend filter. I consider price action above the long-term average as strong and expect higher levels. Price action below the long-term average shows weakness and can become part of a larger scale downtrend. Both daily and weekly scale price chart for the ACWI ETF hasn't provided a well-defined chart pattern.

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