Emerging markets are flashing an interesting signal here, the weekly trend is up, and strongly, but will expire its current advance by the week ending on Dec 18. If we get some kind of unexpected issue before COVID vaccines are widely available, we could get some kind of correction here perhaps. Alternatively, we get a sideways consolidation and the markets keep rallying until vaccines roll out, by March give or take. This is what many charts seem to indicate. Definitely vital to monitor the action here and be ready to react once we get confirmation of one or the other.
@boobooshnu, notice the cyan box, it shows the projected time and price duration/range of the current trend.
By the end of it the market will either correct back down to where it came from, or even lower, or go sideways...
boobooshnu
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@IvanLabrie, I actually see a break of the resistance line so see the short term as positive. Fundamentals are also on the side of the bulls on this one with asian markets fairing well.