| 
June 17, 2023
- Bullish session prepares challenge of $13.58 level, currently 17 cents above current price of $13.41
- IShares Core MSCI EAFE ETF's upper Bollinger Band® is at $69.04.
Despite posting gains on yesterday, ProShares UltraShort MSCI Brazil Capped slid below its 3 day Simple Moving Average at $13.48 during the last session — an early indicator that a negative trend could be emerging. ProShares UltraShort MSCI Brazil Capped's run now faces a challenge at $13.58, which is only 17 cents away and will be interesting to follow.
Overall, looking at the technical analysis landscape, it seems ProShares UltraShort MSCI Brazil Capped is likely to reverse course and start pointing down in the short term.
$37.7 marks the crossover point where Real Estate Select Sector SPDR Fund price action falls below its 200 day Simple Moving Average. Real Estate Select Sector SPDR Fund's upper Bollinger Band® is at $38.32, suggesting that a downward move may follow. Despite this, Real Estate Select Sector SPDR Fund is eyeing the $37.53 support line.
Although price action remains in a stalemate, technical analysis suggests Real Estate Select Sector SPDR Fund could be primed for a break to the downside.
Technical analysis of iShares Core MSCI EAFE ETF's past price action reveals multiple support and resistance levels: iShares Core MSCI EAFE ETF is eyeing the $68.31 support line. Trend-following investors would be interested to note that iShares Core MSCI EAFE ETF's CCI indicator is above +100. Analysis based on the asset volatility indicates that iShares Core MSCI EAFE ETF's upper Bollinger Band® is at $69.04 which indicates a further downward move may follow.
Notwithstanding iShares Core MSCI EAFE ETF's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 15,700, while the previous figure was 8,800.
