Taking a look at FXI this time.
The index has been consolidating for quite some time.
There are a few folks calling the FXI has broken out of a falling wedge. I say look again and apply the trend line of the lows to the high and you can clearly see it is still stuck inside a downtrend channel.
The x3 leverage index YINN and YANG are also helpful to glance at how bullish/bearish cycle compares (represented in Green and Red line respectively, with appropriate resistance/supports), directly above the FXI.
YANG (x3 bear) has been building higher lows while conversely, YINN (x3 bull) has been building lower highs.
Until the bulls manage to break out above the trend channel and close above it, I will still remain cautiously bearish.
The index has been consolidating for quite some time.
There are a few folks calling the FXI has broken out of a falling wedge. I say look again and apply the trend line of the lows to the high and you can clearly see it is still stuck inside a downtrend channel.
The x3 leverage index YINN and YANG are also helpful to glance at how bullish/bearish cycle compares (represented in Green and Red line respectively, with appropriate resistance/supports), directly above the FXI.
YANG (x3 bear) has been building higher lows while conversely, YINN (x3 bull) has been building lower highs.
Until the bulls manage to break out above the trend channel and close above it, I will still remain cautiously bearish.
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