FTSE All World Index just hit the 200MA Green light to 565.56I like looking at the Weekly chart with the FTSE World Index.
Each candle shows you price action and volume over an entire week.
The common denominator with the index is using the 200 Moving Average (Black line.
Each time the price touches or breaks below, it acts as an elastic band and springs right back up.
Well it's reached the level, tested and smart money (big institutions) have gone big and bought up the price.
Technically, it's also forming a Cup and Handle formation.
This is a bullish pattern which resembles a cup (big rounding Bottom) with a handle (small rounding bottom).
Three parts make this C&H pattern including a.
Cup (big rounding bottom),
Handle (small rounding bottom) and a
Brim level (horizontal resistance).
We just need the price to break above the brim level, before we really get traction to the upside,
First target for the index is 565.56.
This is in line with the positive sentiment world wide with America showing indication of no further hike rates, which is good for businesses, consumers and investors.
Less debt, more buying at cheaper prices and it shows stability in the market.
About the FTSE All World Index
The FTSE All-World Index is a global equity index that represents the performance of large and mid-cap stocks from around the world.
Index Provider:
The FTSE All-World Index is provided by FTSE Russell, a leading global index provider.
Global Representation:
It is designed to measure the performance of companies from both developed and emerging markets, providing a comprehensive view of the global equity market.
Large and Mid-Cap Stocks:
The index includes large and mid-cap stocks, covering a broad spectrum of companies across various sectors.
Diverse Sectors:
It encompasses companies from a wide range of sectors, including technology, healthcare, finance, consumer goods, and more.
Geographic Diversity:
The FTSE All-World Index covers stocks from multiple countries, offering investors exposure to both developed economies like the United States, Europe, and Japan, as well as emerging markets.
Benchmark for Global Investing:
Many investors and fund managers use the FTSE All-World Index as a benchmark for global equity portfolios.
Currency Exposure:
It provides exposure to various currencies as it includes companies from different countries, impacting performance based on currency movements.
