Sunday, April 12, 2015

LEIBOVIT VR UPDATE ON FXI - THE CHINA ETF

From the desk of Mark Leibovit.

http://youtu.be/rQihyF-ymQg

Hong Kong Chinese shares soared last week, but followers of my Leibovit VR Indicator received two buy signals ahead of the dramatic surge - one on March 27 and another on April 1 - both shown on the accompanying video and both confirmed by a positive 5/3/3 stochastic.  Here we are extended and I would look for a retracement back to he old high around 47.99 posted November 8, 2010 and possibly back down to 46.00. There are gaps at 49.42, 46.70 and 43.83 that traders should keep in mind when evaluating the risk/reward of any trade in FXI.
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