[FKLI Nov, Part 2] Bulls taking a break
Good job FKLI Trend Followers, the FKLI did underwent a bull market correction as discussed on FKLI November’s Outlook. What’s next? Click to find out more.
Chart 1: FKLI Daily Chart
As shown in CHART 1 above, the FKLI Bulls did took a break and underwent a bull market correction on November 4. Support seen at 1791 region. A stronger bull market correction will happen if 3 moving averages form a deadly cross and could have a stronger correction until 1774 support.
However, do not be greedy in short selling because, based on weekly chart, our FKLI is still in a yearly bull market (refer CHART 2, below). Keep an eye on the supports and it’s weekly macd and be prepared to follow the charts accordingly.
Chart 2: FKLI Weekly Chart
[FCPO Nov, Part 2] Healthy correction before mad rally?
As highlighted on Nov 4 FCPO Monthly Outlook, FCPO currently preparing for a bear market correction. Thumbs Up FCPO Trend Followers that able to follow and enjoy an early part of this trend. That being said, be disciplined and be prepared for the coming weeks.
There is no free lunch in this world and hence efforts must be made by Trend Followers in order to enjoy market trends. Throughout Nov 11 onwards, watch out whether FCPO able to form a day chart macd deadly cross. If it’s able to form a deadly cross, be disciplined and follow the bear market correction and watch out on 2425 support level. On the other hand, be prepared to be grateful and exit at 2503 support level if market unable to break it.
Good luck FCPO Trend Followers, your understanding and your discipline in trend following helped you an early part of this trend. Be prepare to repeat your efforts to enjoy potential trends in the near future.
(Futures commission broker & equity remisier, Contributor of futures market trend following)