FXI peaked at 52.85 (May 4, 2015 high), near 61.8% of the 2007/2008 fall (73.11 peak/19.35 low). The following fall broke below 16-month rising trendline (from March 2014 low) to reach 39.61 (July 8, 2015 low). Further losses expose the 36.72 low (September 27, 2014 higher low) near 76.4% of the 32.58/52.85 rise. The
44.33 area (July 7, 2015 high) should cap near-term bounces.
Outlook:
Short term: bearish
Long term: bearish
44.33 area (July 7, 2015 high) should cap near-term bounces.
Outlook:
Short term: bearish
Long term: bearish
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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.