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’.

In life lots of people know what to do, but few people actually do what they know. Knowing is not enough! You must take action. – Tony Robbins


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