It’s been over 15 years since China’s equity market was in a long-term bullish position.
Now, don’t get me wrong- there have been plenty of medium-term trends to trade and make money, but the long-term chart for the major China ETF (FXI) has traded sideways since the 2009 low.
Today we look at the “monthly” chart of FXI to provide an update.
As you can see, FXI has traded in a 15 year price channel (as well as a 10-year intra-channel). And as we near the end of the month, FXI is attempting to create a bullish reversal pattern off the financial crisis & covid lows at (1).
Could a triple bottom be taking place in this out of favor country? China bulls sure hope so. Stay tuned!
This article was first written for See It Markets.com. To see the original post, CLICK HERE.
