FXI bearish-Weakens to retest 38.88 - July’s spike low next

FXI looks to retest July’s spike low at 38.88 which is also near the 200 week moving average currently at 38.69. Below there lies the 36.72 support (September 29, 2014 low) near the 76.4% retracement of the 32.58/52.85 rise. 41.55 should cap near-term bounces.

Outlook:
Short term: bearish
Long term: bearish