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June 15, 2023
- Buoyed by a strong session amid an uptrend, iShares Core MSCI EAFE ETF is 38 cents away from testing key resistance at $68.33
- The upper Bollinger Band® of iShares MSCI USA Value Factor ETF is at $93.9.
SPDR S&P Metals and Mining ETF made an initial foray below its 50 day Simple Moving Average around $49. SPDR S&P Metals & Mining ETF is currently flirting with an active Fibonacci support level around $49.54. SPDR S&P Metals & Mining ETF's upper Bollinger Band® is at $50.32. Despite this, SPDR S&P Metals & Mining ETF could begin to recover as it approaches significant support, now 76 cents away from $48.45. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for SPDR S&P Metals & Mining ETF.
Despite posting gains on yesterday, iShares Core MSCI EAFE ETF slid below its 50 day Simple Moving Average at $67.94 during the last session — an early indicator that a negative trend could be emerging. IShares Core MSCI EAFE ETF's run now faces a challenge at $68.33, which is only 38 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. On the other hand, note that iShares Core MSCI EAFE ETF is alternating around the $68.33 Fibonacci resistance level.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest iShares Core MSCI EAFE ETF is set for a reversal in the coming days.
IShares MSCI USA Value Factor ETF made an initial foray below its 3 day Simple Moving Average around $92.61. 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. IShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $93.9 which indicates a further downward move may follow. In contrast, iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 64 cents away from $92.42. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for iShares MSCI USA Value Factor ETF.
Fundamental indicators – United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was 5.25.
Upcoming fundamentals: projections for United States Retail Sales are set for a continuation of decline with -0.1% while previous data was 0.4%; data will be released today at 12:30 UTC.
