FXI: Potential For A Push Higher Ahead

Published 11/30/2014, 01:49 AM
Updated 07/09/2023, 06:31 AM

iShares FTSE/Xinhua China 25 Index (ARCA:FXI): The anticipated rally has unfolded, with prices settling back just below 41.00. There is potential for a further push higher in the coming days, as bullish daily studies unfold, but immediate scope is likely to remain limited as overbought areas approach. Resistance is at the41.12 high of 17 September and 41.20, (76.4%) retracement of the September-October fall, but this area is likely to provide an initial barrier. Subsequent setbacks find support down to 39.68, but with a fresh bullish signal pending on the rising Tension Indicator, any weakness should be limited in fresh buying interest.

Week-week investors are neutral, but be prepared to go Long.

FXI Weekly

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.