Why I'm still bullish on ACWX global ex US etf

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 performance of US stocks.
considering US needs a retracement from an impressive 2020 & 2022.
2022 going forward, I think will be the time for other global
countries to shine especially the emerging markets.
Pls make own analysis & comment.