A Merry Christmas for the Bulls
FKLI ended it’s November bull market correction and started a bull market rally throughout last week as indicated by Day Chart MACD on Nov Part 4 Outlook. The market opened at 1,793 on Nov 25 and closed at 1,807.5 on Nov 29. Good job to Trend Followers that rode on this initial bull market rally. Xmas is around the corner, so what’s in store for our FKLI market? Click to find out more.
According to Day Chart (Chart 1, Above), FKLI is in a strong bull market rally mode now as both Macd & Yellow-Red Moving averages formed golden crosses. Consequently for the month of December we will see FKLI stays above it’s 1,790 support and also will break either 1,824 or 1,834 resistances as long as BOTH day chart’s macd & yellow-red moving averages remain golden crosses.
For FKLI to achieve record high (higher than 1,834) it’s weekly Chart MACD need to form golden cross too (refer chart 2 below).
In summary, FKLI will have a strong bull market rally in December WHEN BOTH macd & yellow-red moving averages form golden crosses in day & weekly charts respectively. FKLI Trend Followers, be repeat last week’s efforts and ride on the trend tightly.
(Futures commission broker & equity remisier, Contributor of futures market trend following)