Global equity markets fell on Tuesday as investors shed risky assets. The sharp sell-off in the SWI 20 index was triggered by a solid rejection of the established resistance line at 6580.

A series of solid rejections of the downtrending resistance line by the AUS 200 give this 30-minute Triangle chart pattern a negative tone, supporting the conclusion of a breakout to the downside as determined by Autochartist.

The 30-minute AUS 200 Triangle chart pattern is consolidating at the support line, leading to speculation that this emerging chart may trigger a continuation rally into resistance.

The 240-minute US 500 formed a potentially bearish Triangle chart pattern after investors fled risky assets for the safety of the U.S. Dollar. The index made an attempt to breakout to the upside after establishing support, but that rally met selling pressure which triggered a closing price reversal top. Based on the topping formation, as well as the support line break, this market seems poised to continue its break into the target zone at 1210.00 to 1199.75.

The intraday surge in the DE 30 (or “Germany 30”) has put this index on the bullish side of downtrending resistance created by a 60 minute Channel Down pattern. After sitting inside of this emerging formation for 39 time periods, this market recently became a completed pattern, setting up an upside target at 6648 to 6671.