Next to the United States, one could argue that China is the world’s most important economy.
It’s population and sheer size (and exports) make it a big deal to the investing community and global economy (and trade).
So today we look at an important development on the China ETF $FXI.
Below is a long-term “monthly” chart showing FXI attempting to breakdown through important price support. A month-end closing below the green line would be a concerning.
The world is sure hoping this China ETF holds at this support. If it doesn’t hold, then the global economy (and equities) may be in trouble… and the China “short” ETF $FXP will continue to produce gains. Stay tuned!