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GLOBAL EQUITY MARKETS – March 16, 2019

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found support above its 200-day (40 week) average. Sharp V-reversal from the low of January 2019 didn't encounter a pullback/correction. I analyze the price action that manages to consolidate and find support above its long-term average as positive and review the ACWI ETF with a bullish bias. During any pullback or further sideways consolidation, the 200-day moving average at 69.9 levels will act as support.

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GLOBAL EQUITY MARKETS – March 9, 2019

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 71.3 levels. Strong rebound that started in the beginning of January is now being interrupted with a correction. This week's price action tested the 200-day moving average.  We are likely to see more choppy price action around the 200-day average, possibly in an attempt to form a reversal chart pattern. It is still early to call for the developing chart pattern a head and shoulders reversal. ACWI ETF is now in a trading range between 66.3 and 71.3 levels.

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SPAREBANK 1 SMN (MING.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 SPAREBANK 1 SMN, listed on the Oslo Stock Exchange. Blog post is followed by a short educational video on Ascending Triangle that acts as a bullish continuation chart pattern.

SPAREBANK 1 SMN (MING.OL)

SpareBank 1 SMN (the Bank) is a Norway-based regional bank. It is engaged in the provision of both banking and financial products and services to individual and corporate customers. 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 92.50 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 95.30 levels will confirm the breakout from the year-long ascending triangle with the possible chart pattern price target of 107.90 levels. Breakout can push the stock to all-time highs. Price data as of 06/03/2019, 17:40 CET

A short educational video on Ascending Triangle as a bullish continuation chart pattern


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GLOBAL EQUITY MARKETS – March 2, 2019

REVIEW


The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF remains above its long-term 200-day moving average. The ETF is now testing a minor resistance level at 71.3. The rebound from January lows has been strong and without any correction. A possible correction can result in a pullback to test the 200-day moving average at 69.8 levels. With the price remaining above the long-term average, the technical outlook has turned positive.

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