Watching FXI at this 35.80ish level, thoughts?

asked by u/aiman_mahmud · 12d · 5 answers

Been looking at $FXI again after its recent move. It's hanging around that 35.80-36.00 area, which has acted as a pretty consistent resistance point over the last few weeks. My gut feeling, just looking at the charts, is that we could see a retest of the low 35s if it can't push decisively through 36 soon. The daily candles are showing some indecision right around this spot now. Of course, a solid close above, say, 36.20 would probably invalidate that immediate downside scenario for me, and I'd have to reconsider. Anyone else seeing something similar here, or am I missing a key piece of the puzzle?

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Top answers

  • u/david_w· 5 pts· 11d

    I'm seeing similar indecision on the daily; volume isn't really confirming a breakout either way at this level. Do you have any specific macro triggers you're watching for a potential push or drop?

  • u/gold_bug_omar· 2 pts· 11d

    I'm seeing similar indecision on the charts for FXI. Do you think the upcoming economic data from China will be enough to break it out of this range?

  • u/sofiakowalski· 1 pts· 11d

    That's an interesting observation on the 35.80-36.00 resistance. I'm curious, what makes that level significant in your charting besides just recent action? Are there any older support/resistance levels aligning there?

  • u/anakamura· 1 pts· 11d

    Yeah, I've been watching FXI too and that 35.80-36.00 range is definitely a tough nut to crack. I wonder if there's any news coming out that could give it a push or pull it down, or if it's mostly just technicals at play right now.

  • u/ayesha_siddiqui· 1 pts· 11d

    It's a tough call given the current sentiment. While 35.80 has been a wall, volume seems to be lacking on any attempted breakouts. I'm leaning towards a retrace unless we see a significant catalyst.

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