Updated Analysis: During Q1 2022, the $100 level represented a key pivot , which if breached, would see global equities begin a downward trend. We have since seen the price of the ETF drift lower, declining by 13% as at Friday's close. An observation of the weekly chart sees global equities having given back 4 weeks worth of gains in one week, with a bearish engulfing candle that sees stocks at their lowest close since November 2020. Applying the 200-week linear regression channel, the price trades at 2.5x it's mean but with poor price action and candle structure which raises the likelihood of further downside.