As covered in our Nov Part 4 Outlook & DEC outlook, the FKLI still in bull market rally mode. Consequently. it opened at 1,807 and rallied to a close at 1,821 for the first week of December. Good job to Trend Followers that able to follow this bull market rally so far, all thanks to your own discipline and understanding in following the price trends. That being said, observe the market for the 2nd week of December.
According to CHART 1 above, both day macd & yellow-red moving averages still showing golden crosses. This means FKLI is still in a bull market rally mode and consequently could test and break either 1,824 or 1,834 resistance in the coming weeks.
In addition, the market could achieve new high if it’s weekly MACD can successfully for a golden cross (refer chart 2 below). So, Trend Followers, you know what to do. Be ready to repeat the good efforts you had been doing lately and follow the price trends tightly.
(Futures commission broker & equity remisier, Contributor of futures market trend following)