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June 11, 2023
- Buoyed by a strong session amid an uptrend, iShares MSCI USA Momentum Factor ETF is 50 cents away from testing key resistance at $138.48
- The upper Bollinger Band® of ProShares UltraShort MSCI Brazil Capped is at $18.26.
Visual analysis of ProShares UltraShort MSCI Brazil Capped's chart shows that ProShares UltraShort MSCI Brazil Capped's bearish trend is facing a possible turning point at $13.84, which is only 20 cents away. Will be interesting to follow. Concerning technical analysis and more specifically, trend indicators, ProShares UltraShort MSCI Brazil Capped's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. According to momentum evaluation, the Relative Strength Index indicates ProShares UltraShort MSCI Brazil Capped is in oversold condition. Asset volatility analysis shows that ProShares UltraShort MSCI Brazil Capped's lower Bollinger Band® is at $13.96.
For the time being, ProShares UltraShort MSCI Brazil Capped remains flat without a clear direction.
Around $138.29, iShares MSCI USA Momentum Factor ETF can look to establish a new bullish phase beyond its 21 day Simple Moving Average. IShares MSCI USA Momentum Factor ETF's lower Bollinger Band® is at $135.5, indicating that the market is oversold and fertile for new buyers. Despite this, iShares MSCI USA Momentum Factor ETF's run now faces a challenge at $138.48, which is only 50 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems iShares MSCI USA Momentum Factor ETF might continue pointing upwards in the short term.
Despite being in the red so far in the current trading session, iShares Global Clean Energy ETF peaked above its 21 day Simple Moving Average around $18.69 — typically an early indicator of a new bullish trend beginning to emerge. The lower Bollinger Band® of iShares Global Clean Energy ETF is at $18.28. IShares Global Clean Energy ETF is trending down and heading towards $18.41, which is only 9 cents away now. Hitting this support line might signal a change of direction. On the other hand, note that iShares Global Clean Energy ETF is hovering around the $18.61 Fibonacci support level.
Overall, looking at the technical analysis landscape, it seems iShares Global Clean Energy ETF —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
