The iShares FTSE/Xinhua China 25 Index or $FXI, has been turning things around after a bearish 2018. As we can see on the daily chart, price has completed a double bottom. FXI Daily Chart(click to enlarge)Double Bottom:- In 2018, FXI came down from a high of $54 to a low around $38, where it eventually completed double bottom.- The break above $43 in February of 2019 was the breakout that confirmed the double bottom. - Also note that during this bullish swing, price broke above a falling trendline as well as climbed above the 200-, 100-, and 50-day simple moving averages.- Finally, the RSI also pushed above 70, which signaled initiation of bullish momentum.- However, price stalled around $45.25, and consolidated for a little over a month.- Price is again knocking on $45.25 resistance. So far, the market has maintained the bullish bias during this consolidation.- I think the price chart shows a strong likelihood that the FXI will push higher towards at least the $47-$48 area, which represents the consolidation highs from March to June 2018. - For now, I would limit the upside to $50. - I think from there, we might see some consolidation with downside back to $46. - It will take a break below $42 to invalidate the bullish breakout and the potential extension towards $50.