When a new bull-market begins, first, the 47-month MA is confirmed as the price bounces up above it. Next, the 15-month MA is broken as resistance and becomes support again. Thirdly, the price breaks through the 21 and finally comes back down to test and confirm the 15 MA as support.
We have done the first three steps exactly by the book. Now, we only have left the confirmation of the 15 MA. After that, I would expect the bull market to continue. IF however, we break the 15-month average, expect another bear market.