FXI 37.69 neutral – Remains range-bound near term
FXI retraced near 61.8% of the 34.32/40.59 rise (September 29 low/October 23 high, 2015). 35.85 (October 2, 2015 low) near 76.4% of the 34.32/40.59 rise, is the next support. Below lies the 34.32 range low. However, if bulls manage to retake the 38.34 high (November 12, 2015), that would suggest scope for further gains towards 39.61 (November 4, 2015 lower high).
Outlook:
Daily: neutral
Weekly: neutral
FXI retraced near 61.8% of the 34.32/40.59 rise (September 29 low/October 23 high, 2015). 35.85 (October 2, 2015 low) near 76.4% of the 34.32/40.59 rise, is the next support. Below lies the 34.32 range low. However, if bulls manage to retake the 38.34 high (November 12, 2015), that would suggest scope for further gains towards 39.61 (November 4, 2015 lower high).
Outlook:
Daily: neutral
Weekly: neutral
