Saturday, November 22, 2008

Is China Market finally thinking for itself? FXI

Very interesting chart: with recent meltdown in DOW DIA, S&P SPY and Nasdaq QQQQ and new lower lows Chinese ETF FXI managed to make a higher low and formed strong reversal pattern with Buy not violated on PPO as in a more cautious case in Dow. Next week will be crucial whether FXI can overtake resistance of MA50.

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