In mid-January FXI – the iShares China Large-Cap ETF – moved above its 10- 20- and 50-day exponential moving averages. FXI then followed an uptrend that moved mostly between its 10-day exponential moving average and the upper Bollinger Band.
After a short consolidation phase, the yellow box, just above the blue resistance line, bulls proved stronger and moved FXI up.
While FXI’s volatility is rather high, its MACD is generally moving up and above its signal line.
XFI’s Relative Strength, on the other hand, moves along its horizontal 20-day exponential moving average.