| 
June 21, 2023
- IShares iBoxx $ High Yield Corporate Bond ETF bearish trend is facing a possible turning point at $74.67
- IShares Silver Trust's upper Bollinger Band® is at $22.43.
Concerning technical analysis and more specifically, trend indicators, despite being in the red so far in the current trading session, iShares iBoxx $ High Yield Corporate Bond ETF peaked above its 5 day Simple Moving Average around $74.84 — typically an early indicator of a new bullish trend beginning to emerge. Asset volatility analysis shows that iShares iBoxx $ High Yield Corporate Bond ETF's upper Bollinger Band® at $75.25, suggesting a further decline is forthcoming. Technical analysis shows that a persuasive break of this target could lead to higher losses.
For the time being, iShares iBoxx $ High Yield Corporate Bond ETF remains flat without a clear direction.
IShares Silver Trust could begin to recover as it approaches significant support, now 12 cents away from $21.14. Dipping below could be an indication that further losses are ahead. The lower Bollinger Band® of iShares Silver Trust is at $20.89.
Despite suffering losses in today's session, technical analysis is indicating that iShares Silver Trust will undergo a significant bounce in the immediate term.
SPDR Bloomberg Barclays High Yield Bond ETF made an initial foray below its 5 day Simple Moving Average around $91.8. Price action pushed below a known Fibonacci support level at $91.68 by around 1.042 cents with prices hammering out a $91.67 – $91.92 range by session close. The upper Bollinger Band® of SPDR Bloomberg Barclays High Yield Bond ETF is at $92.29. In contrast, $91.58 is only 9 cents away for SPDR Bloomberg Barclays High Yield Bond ETF and might put a stop to its current downtrend.
Looking forward, SPDR Bloomberg Barclays High Yield Bond ETF is poised to extend its strong downtrend and continue declining.
Fundamental indicators – United States Building Permits (May) released yesterday at 12:30 UTC with a figure of 1.49 million, while the previous figure was 1.15 million.
Upcoming fundamentals: tomorrow at 15:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.87 million from the preceding figure of 7.92 million.
