FXI Gets Smaked Again. Watch These Support Levels.
The iShares FTSE/Xinhua China 25 Index ETF (NYSE:FXI) is trading sharply lower this morning. The FXI is declining by $1.00 to $41.58 a share. The FXI has been in a major down trend since early November 2010 when inflation began to really hit the Chinese economy. Traders can watch for short term intra-day support for the FXI around the $41.40 and $41.00 levels. Both areas could see small intra-day bounces.