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April 25, 2023
- Price action oscillating around key resistance at $8.06
- Around $8.12, ProShares VIX Short-Term Futures ETF can look to establish a new bullish phase beyond its 10 day Simple Moving Average.
Around $8.12, ProShares VIX Short-Term Futures ETF can look to establish a new bullish phase beyond its 10 day Simple Moving Average.
Overall, looking at the technical analysis landscape, it seems ProShares VIX Short-Term Futures ETF might continue pointing upwards in the short term.
Concerning technical analysis and more specifically, trend indicators, $151.09 marks the crossover point where iShares S&P 500 Value ETF price action falls below its 21 day Simple Moving Average. Bearish sentiment was sufficient to push prices below the known Fib level of $151.22 serving as intraday support. Asset volatility analysis shows that iShares S&P 500 Value ETF's lower Bollinger Band® is at $148.16. Following today's trading session, chart analysis suggests iShares S&P 500 Value ETF price action is currently oscillating around the $151.88 support level with prices moving above and below several times during the session.
For the time being, iShares S&P 500 Value ETF remains flat without a clear direction.
$36.86 marks the crossover point where Real Estate Select Sector SPDR Fund price action falls below its 21 day Simple Moving Average. Despite this, bearish run for Real Estate Select Sector SPDR Fund is facing a possible turning point at $36.79, which is only 3 cents away. If this support line fails to hold, the next target will be at $36.51.
In the short term, Real Estate Select Sector SPDR Fund is expected to maintain its recent downtrend and continue spiralling lower.
Fundamental indicators – United States New Home Sales (Mar) came out at 683,000, while a consensus of analysts was expecting 630,000.
Upcoming fundamentals: United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of -0.1%; data will be released tomorrow at 12:30 UTC.
