BATS:FXI   iShares China Large-Cap ETF
With China in the early recovery stage of the business cycle it may be time to consider a trade to the long side.

The FXI is currently trading at the POC line on the 1 year fixed vol profile. We see a series of higher lows after bottoming on January 22, which is also a prior low back in October 2022.

The OBV confirms the uptrend and the DI+ recently cossed D- from bellow. I anticipate the ADX rising in the near term to confirm the trend strength.

The circle highlights a confluence of points where price is trading at the POC, testing the .5 fibonacci level and breaking out of the wedge.

Looking for a close over 24.14 with increased volume.

Targeting 27.42 & 35.17
Stop: 23.50

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.