SMI: New bull market on Swiss stocks. Excellent buy opportunity.
The Swiss Market Index broke past the 9,600 1M Resistance in April. This level has been rejecting any upside movements since 2007. This is a cyclical mega long term development as a new bull market is emerging. Since it has been trading within a long term Channel Up (RSI = 59.500, MACD = 210.200, Highs/Lows = 364.7764) with recurring bullish leg, we have no reason to believe that this will be discontinued. If the current bullish leg also lasts around 1430 days, then this puts the next Higher High around 12,500 by late 2022. Excellent long term investment opportunity on Swiss stocks.
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