position is a long-term long hold. That said, I still track the short-term technicals for opportunistic trading. Tom_killick correctly sounded the alarm to the potential for a large breakdown earlier in January. I expected - and continue to expect - another round of Yuan devaluation, which I believe is bullish
. Needless to say, I was caught offsides for this recent decline. I see support at 380, immediate term resistance b/w 395 and 405, and a short-term target of 433. 433 corresponds to both the 76% fib retracement and the prior consolidation zone floor.