$FXI Testing the 36 Handle - What's Next?
Hey everyone,
Been keeping a close eye on $FXI today and it's definitely interesting to see it bounce off that 35.82 low and push past the opening price, currently sitting around 35.86. The daily high was 36.125, which it looks like it just couldn't quite hold, but the fact it tested it after a dip is telling.
I'm watching the 36 level closely now. It feels like a minor psychological barrier, but more importantly, a potential pivot point. If we can see a sustained close above 36.10-36.15 in the next day or so, it could signal a decent push higher, potentially targeting 36.50 and beyond. On the flip side, a failure to hold above 35.80 and a clear move down could see us retesting the prior support around 35.50. The risk for any bullish scenario here, for me, would be a close below that 35.80 mark, especially on increased volume. Just my two cents, curious what others are seeing.
Yeah, that 36 level does seem to be acting as a bit of a magnet. Are you looking at any specific volume metrics around that price point to see if there's significant support or resistance forming?