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April 26, 2023
A quick look at yesterday: ProShares UltraShort MSCI Brazil Capped went up to $19.5 yesterday, gaining 2.79%.
United States Core Durable Goods Orders data will be released today at 12:30 UTC, with an expected decline to -0.2%.
Nevertheless, United States Consumer Confidence fell short of the 104 projections, with new data of 101.3.
At the same time, United States New Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000. United States Building Permits came out at 1.43 million, while a consensus of analysts was expecting 1.41 million.
ProShares UltraShort MSCI Brazil Capped made an initial breakout above its 21 day Simple Moving Average at $19.53, a potential indicator of a newly emerging bullish phase. Despite this, ProShares UltraShort MSCI Brazil Capped reversed direction at $19.69 resistance zone and retreated back 19 cents below it.
Overall, looking at the technical analysis landscape, it seems ProShares UltraShort MSCI Brazil Capped might continue pointing upwards in the short term.
ProShares UltraShort MSCI Brazil Capped shows positive signs, other assets are also on par: notably, Novartis rose 3.43% yesterday and closed at $100.59.
Meanwhile, United Parcel Service plunges 10% yesterday and closed at $195.85. Thermo Fisher Scientific lost 4.51% yesterday and closed at $574.3.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.49 million, having previously been at -4.58 million. The figure will be published today at 14:30 UTC.
Also worthy of note, United States Core Durable Goods Orders projected to decline to -0.2% while previous data was -0.1%; data will be released today at 12:30 UTC. United States Pending Home Sales projected to come out at 0.5% — worse than previous data of 0.8%; data will be released tomorrow at 14:00 UTC.
9 months ago ProShares UltraShort MSCI Brazil Capped reached a significant high of $34.1 but has consequently lost 44.37% since then.
