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June 01, 2023
- IShares MSCI South Korea ETF bearish trend is facing a possible turning point at $62.42
- Direxion Daily Energy Bull 2X Shares's upper Bollinger Band® is at $55.1.
Technical chart analysis shows ProShares Short Russell2000's run now faces a challenge at $25.06, which is only 23 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend analysis indicates that around $24.66, ProShares Short Russell2000 can look to establish a new bullish phase beyond its 21 day Simple Moving Average. ProShares Short Russell2000 is hovering above a known Fibonacci resistance level of $24.83. Asset volatility analysis shows that ProShares Short Russell2000's upper Bollinger Band® is now at $25.16.
Notwithstanding ProShares Short Russell2000's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Chart analysis suggests Direxion Daily Energy Bull 2X Shares's downtrend might be halted by its support level at $48.3, which is only 54 cents away. Concerning technical analysis and more specifically, trend indicators, Direxion Daily Energy Bull 2X Shares's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Analysis based on the asset volatility indicates that the lower Bollinger Band® of Direxion Daily Energy Bull 2X Shares is at $48.81.
For the time being, Direxion Daily Energy Bull 2X Shares remains flat without a clear direction.
Support/Resistance levels obtained from chart analysis indicate that bearish run for iShares MSCI South Korea ETF is facing a possible turning point at $62.42, which is only 33 cents away. If this support line fails to hold, the next target will be at $62.05. Technical analysis trend indicators suggest that despite being in the red so far in the current trading session, iShares MSCI South Korea ETF peaked above its 5 day Simple Moving Average around $62.66 — typically an early indicator of a new bullish trend beginning to emerge. According to asset volatility analysis, iShares MSCI South Korea ETF's upper Bollinger Band® is at $63.93 which indicates a further downward move may follow.
For the time being, iShares MSCI South Korea ETF remains flat without a clear direction.
Fundamental indicators – United States JOLTs Job Openings (Apr) came out at 10.10 million, while a consensus of analysts was expecting 9.78 million.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million, having previously been at -12.46 million. The figure will be published today at 15:00 UTC.
