novvoll12

FXI 42.35: Last 3 days’s strong rebound suggests stabilization

AMEX:FXI   ISHARES CHINA LARGE-CAP ETF
fxi
9 0 1
fxi
FXI             rebounded strongly after the sharp fall reached a new year-to-date low at 38.88 (July 8, 2015 low) to suggest stabilization near-term and could begin a range-bound type of price action between 44.33 (July 6, 2015 high) and 38.88. However, if bulls are able to reclaim the 44.33 resistance area quickly, that would improve the outlook further towards 46.34.
Outlook:
Short term: neutral
Long term: neutral
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