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Written by Our Staff writer
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February 11, 2010: This is the support and resistance report for the exchange traded fund (ETF), FXI, that tracks the Xinhua China 25 index. We have also identified support and resistance on FXP, the inverse ETF, that moves up when the index falls.
- The levels marked by the red lines on the charts below are resistance areas, where we'd would take profits on long positions or establish a short position
- The levels marked by the green lines are support areas, where would take profits on short positions or establish a long position
- The red line is our short entry points and the yellow line above the red line is our stop loss point. We always take our loss at the stop loss to minimize losses
- The green line our long entry point and the yellow line below is our stop loss. We always take our loss at the stop loss to minimize losses.
- Once our position is profitable we move our stop loss to lock in profits.
Chart Analysis FXI & FXP support and resistance chart |
