This Large-Cap Chinese ETF Signals Lower Prices Ahead

Published 04/23/2018, 02:43 PM

One of the most popular way for traders and investors to trade and track the Chinese stock market is to use the iShares China Large-Cap ETF (NYSE:FXI). This ETF includes Chinese companies such as China Construction Bank (OTC:CICHY), Tencent Holdings (OTC:TCEHY), China Mobile Limited (NYSE:CHL), CNOOC Limited (NYSE:CEO) and many others.

Support To Watch

FXI's daily and weekly patterns have shown choppy sideways consolidation after a sharp decline from a January 26, 2018 peak. This indicates that the next major move for the FXI will be lower. The next important support level will be around the $43, which is where the stock broke out in August 2017. Often, prior levels will be solid support when initially retested.

iShares China Large-Cap ETF

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