| 
March 11, 2023
- VanEck Vectors Video Gaming and eSports ETF's downward trend will be tested at $46.64 as key support
- Upper Bollinger Band® currently at $48.47
$47.29 marks the crossover point where VanEck Vectors Video Gaming and eSports ETF price action falls below its 50 day Simple Moving Average. VanEck Vectors Video Gaming and eSports ETF is hovering around the $46.93 Fibonacci support level. On the other hand, note that $46.64 is only 46 cents away for VanEck Vectors Video Gaming and eSports ETF and might put a stop to its current downtrend.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting VanEck Vectors Video Gaming and eSports ETF to extend its recent losses.
Chart analysis suggests Vanguard Total International Bond ETF's recent run now faces a major challenge as concentrated supply is likely found at $48.38 with price action currently 8 cents away. Trend-focused traders would be interested to note that despite posting gains on yesterday, Vanguard Total International Bond ETF slid below its 50 day Simple Moving Average at $48.22 during the last session — an early indicator that a negative trend could be emerging.
For the time being, Vanguard Total International Bond ETF remains flat without a clear direction.
Around $106.51, iShares iBoxx $ Investment Grade Corporate Bond ETF can look to establish a new bullish phase beyond its 21 day Simple Moving Average. IShares iBoxx $ Investment Grade Corporate Bond ETF is hovering above a known Fibonacci resistance level of $106.7. Despite this, iShares iBoxx $ Investment Grade Corporate Bond ETF's run now faces a challenge at $107.22, which is only 40 cents away and will be interesting to follow.
Overall, looking at the technical analysis landscape, it seems iShares iBoxx $ Investment Grade Corporate Bond ETF might continue pointing upwards in the short term.
Fundamental indicators – highly important Non Farm Payrolls data from United States beat analyst expectations of 205,000 with a reading of 311,000.
