FXI Trade

FXI is in a long term uptrend on the weekly chart (not shown). Above is a daily chart and you'll notice a 1-2-3 formation which is developing. If FXI takes out last week's high (point 2) in the next few days, I will be a buyer. The stochastics are also in the buy zone which in my opinion means a possible buying opportunity. My view is that this is a pullback within a bull market so I'm going to look to buy this dip.