The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is now testing the horizontal resistance at 74.8 levels. Breakout can be positive for Global equities. This week's candlestick shows that 74.8 levels remains a resistance. The 200-day moving average at 71.5 levels will act as support during any pullback.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains above its 200-day average. Strong resistance stands at 74.8 levels and the 200-day moving average as support at 71.3 levels. The weekly scale price chart can form a possible H&S continuation. So far the right shoulder formed symmetry in price but not in time. In other words the time it took for the left shoulder has been longer than the right shoulder. Perfect symmetry is rare. Breakout above 74.8 levels will be positive for Global equities.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) held onto its past week's gains. The ETF didn't move much and remained in a range between the 200-day moving average at 71.2 and the horizontal resistance at 74.8 levels. There is no clear trend or a recognizable chart pattern in the short-term. The ETF offers short-term trading opportunity between the boundaries at 71.2 and 74.8.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) had a sharp reversal above its 200-day average and the horizontal resistance at 71 levels. Previous week's breakdown from the H&S top was possibly a bear trap. Global equities are going through a volatile, trend-less period. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) finsihed the week below the important support level at 71 levels. The head and shoulder chart pattern price target stands at 67.75 levels. Both the neckline and the 200-day moving average stands at 71 levels and will act as resistance. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) finsihed the week at a very critical support. The neckline of the possible 3 month-long H&S top and the 200-day moving average are overlapping at 71 levels and forming short-term support. Read More
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O), pulled back from the strong resistance at 74.8 levels. During the week price tested the long-term 200-day average at 71 levels and rebounded. For now we can conclude that the 200-day average acted as support. In the following weeks I will monitor the price action around the average. Failure to hold above 71 levels can result in a larger scale correction. The daily scale price chart can form a short-term H&S top. Both the neckline of the possible H&S top and the 200-day moving average are overlapping at the same level (71). In the short-term, as long as the price remains above 71 support, ACWI ETF is expected to trade between 71 and 74.8 levels.
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The benchmark for Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) experienced a sharp pullback from the strong resistance at 74.8 levels. Pullback found support around the 200-day moving average at 71 levels. What could be next for the Global equity benchmark? One option is a new trading range between 71 and 74.8, similar to what the benchmark experienced in the first half of 2018. A consolidation between the long-term average and the horizontal resistance at 74.8. The other option is the continuation of the correction with a breach below the long-term average. As long as the index manages to hold above the long-term average, I will continue to view the price action as positive. Short-term support is at 71 and the resistance is at 74.8 levels.
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The benchmark for the Global equity markets, the iShares MSCI All Country World Index ETF (ACWI.O), continues to remain around the strong resistance at 74.8 levels. The long-term 200-day moving average stands at 71 levels. There is no clear short-term chart pattern that would indicate a continuation of the existing uptrend. Price remains above the long-term average and such technical condition suggests the ETF is in an uptrend. If there is a pullback from the short-term resistance at 74.8 levels, the 200-day moving average is likely to act as support.
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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O), found resistance at the important horizontal resistance at 74.8 levels. Given the magnitude of the strong rebound and the steady rise without any pullback, one can't rule out the possibility of a breather/pause around the resistance at 74.8 levels. If we see a pullback, the 200-day moving average which is currently at 70.8 levels can act as support.
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