$FXI Bear Flag Points to Another Low

Here is giant multi-year bearish wedge we are in on $FXI:

FXI

And locally, we have a decent bear flag (orange). My interpretation is that the high probability move here is a trip to that blue trend line. We will likely bounce from there, but I will wait before making that call because it will be some time ahead of us. For now I am only calling for a move to $37.

FXI


[UPDATE]: We got a reasonable move in the direction of that trend line, hitting the orange target box perimeter exactly. Because of that, I will file this under “Successful Calls,” and I will be making a new call on this shortly.

FXI


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