Conviction: 3/5
Overall still in LT (2009) down channel, so trade is quite risky... you are trading against the trend...
HOWEVER:
bounced off MT (2018) trend support
RSI looks pretty good
SPY ourperformance against world is pretty outrageous in the last 2 years, so some mean-reversion is likely
Trade duration... 3-5 months.
Much better trade is to...
Unclear what is going to happen... probably not a good idea to trade this right now.
Can trade small position within the channel, although risky to trade against the trend...
Bull case:
potential bull flag setup
good relative value (in terms of performance) to S&P 500
holding peak-price support from 2017 so far
better to wait for confirmation of bull...
ACWX recently bounced with 2 engulfing candles with volume.
It then reclaims the weekly green ema50.
It seems to be completing a bullish flag.
The violet ema100(also coincides with the median line of pitchfork),
should provide a good support
where institutions will buy.
I would be less bullish for the ACWI global etf with US,
which will depend a lot on the...
EM MSCI X USA ETF has been moving in a channel for a very long time with an occassional break out of the channel. Will it break out the ascending Triangle or... Let us see....
Disc : Not a SEBI Registered. I post charts for my own study.
