| 
May 04, 2023
A quick look at yesterday: ProShares UltraShort MSCI Brazil Capped slid down from $19.87 to $19.5, taking a 37.35 cents loss (1.88%)
Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 240,000. Potentially significant price fluctuations in ProShares UltraShort MSCI Brazil Capped are expected to follow.
United States Crude Oil Inventories fell short of the -1.1 million projections, with new data of -1.28 million.
While price action maintains a negative bias, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25. United States ISM Non-Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 51.9, while the previous figure was 51.2.
Yesterday's price action generated a Japanese candlestick pattern showing a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. ProShares UltraShort MSCI Brazil Capped is currently flirting with an active Fibonacci support level around $19.65. A study of ProShares UltraShort MSCI Brazil Capped's chart reveals various key levels to watch: ProShares UltraShort MSCI Brazil Capped could begin to recover as it approaches significant support, now 20 cents away from $19.3. Dipping below could be an indication that further losses are ahead.
In the meantime, negative performances are also seen in other markets, Starbucks lost 9.17% yesterday and closed at $114.46. After ending yesterday's session at $89.91, AMD lost $8.29 and is trading around $81.62.
Positive performances can be seen by looking at other markets as Eli Lilly and Company explodes 6.68% yesterday and closed at $404.2.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 236,000. Projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 230,000; data will be released today at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.6 from the preceding figure of 3.5.
ProShares UltraShort MSCI Brazil Capped has fallen back around 41.72% over the past 9 months, from a notable high of $34.1.
