India Bull Market About To Resume – IFN PIN INDA INDL

by Olivier on November 10, 2014

India’s bull market is about to resume any day now. My assumption is based on the technical set-up for IFN – India ETF which looks very constructive. Here is what the chart is displaying:

  • The uptrend started in 2014 with a thrusting move
  • A consolidation pattern ensued
  • A successful retest of the rising MA 30
  • Bullish ascending triangle pattern

As I’ve stated in the past, whenever price successfully tests RISING long-term moving averages like the weekly MA 30 that is the sign for a healthy move. The uptrend is firmly established and confirmed. The fact the MA is rising simply means there is already enough momentum and upside pressure. If this set-up is combined with a consolidation pattern that is about to break-out to the upside odds are very much in favour of those betting on further upside.

Click on IFN – India ETF chart to enlarge:

Always up-to-date IFN – India ETF chart on my public list.

Unleveraged ETFs like IFN, PIN, INDA and the 3x leveraged ETF INDL are ways to play the ‘India bull market investment theme’.

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