China: Just a Normal Correction?

09/03/2009 9:16 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

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The China market is getting much of the financial world's attention, but so far, the narrowly-based China ETF (FXI) has not even reached the 23.6% support level. The more important 38% support is at $34.20. The RSI has reached support and did not reach overbought extremes in July. A close back above $41 would be a short-term positive.

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