Interesting Rounded Reversal on FXI China Weekly
Headlines have featured on China and its pulling back of its economic stimulus, which has contributed in part not only to a pullback in FXI (iShares Xinhua China 25 ETF).
Let’s take a quick look at the FXI weekly chart to see a lesson in lengthy negative divergences and a likely developing “Rounded Reversal” pattern forming into a critical support level.