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February 28, 2023
- IShares MSCI Taiwan ETF's downward trend will be tested at $43.33 as key support
- IShares MSCI Emerging Markets ETF's upper Bollinger Band® at $42.08, suggesting a further decline is forthcoming.
Trend analysis indicates that iShares MSCI Taiwan ETF's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $43.43, a low enough level to, generally, suggest that iShares MSCI Taiwan ETF is trading below its fair value. Technical analysis of iShares MSCI Taiwan ETF's past price action reveals multiple support and resistance levels: a convincing break of this target could pave the way for deeper losses.
For the time being, iShares MSCI Taiwan ETF remains flat without a clear direction.
Trend-following investors would be interested to note that SPDR S&P Bank ETF made an initial foray below its 5 day Simple Moving Average around $48.25. Analysis based on the asset volatility indicates that SPDR S&P Bank ETF's lower Bollinger Band® is at $47.7. Technical analysis shows that $48.03 is only 23 cents away for SPDR S&P Bank ETF and might put a stop to its current downtrend.
For the time being, SPDR S&P Bank ETF remains flat without a clear direction.
Trend and momentum analysis indicates that iShares MSCI Emerging Markets ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Asset volatility analysis shows that iShares MSCI Emerging Markets ETF's lower Bollinger Band® is at $38, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of iShares MSCI Emerging Markets ETF's historical price actions shows a persuasive break of this target could lead to higher losses.
For the time being, iShares MSCI Emerging Markets ETF remains flat without a clear direction.
Fundamental indicators – highly important Consumer Confidence data from United States beat analyst expectations of 108.5 with a reading of 102.9.
Upcoming fundamentals: tomorrow at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 440,000 from the preceding figure of 7.65 million.
