Throughout the last week, FKLI continued it’s bull market rally mode as highlighted in our Dec Part 2 Outlook. True to be told, the market did rally and most importantly achieved a record high at 1843 on Monday. Congrats FKLI Trend Followers on your profits. That being said, observe the market for the 3rd week of December.
FKLI day macd & yellow-red moving averages still showing golden crosses (refer Chart 1 above). This means FKLI is still in a bull market rally mode and consequently could break either 1,834 again or even break 1,844 resistance in the coming week.
Besides that, weekly MACD also forms a golden cross (refer chart 2 below). This means the market is preparing for a strong bull market rally mode and could achieve another record high by end of this year. 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)