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April 17, 2023
A quick look at today: iShares Global Clean Energy ETF went up to $19.91 today, gaining 1.63%.
At the same time, United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released today at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as iShares Trust – iShares Global Clean Energy ETF price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Having stamped out a session range of $19.59 to $19.96, Fibonacci-inclined iShares Global Clean Energy ETF traders were highly concentrated around active Fibonacci resistance at $19.86. Today'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. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $20.03, thereby suggesting that iShares Global Clean Energy ETF is becoming overvalued. Visual analysis of iShares Global Clean Energy ETF's chart shows that iShares Global Clean Energy ETF broke through the $19.76 resistance, climbing 15 cents above it.
Overall, while iShares Global Clean Energy ETF has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as Wells Fargo & Company went up by 4.19% today, and closed at $41.3. Notably, ProLogis rose 2.82% today and closed at $119.76.
Meanwhile, Alphabet lost 2.78% today and closed at $109.46.
The market is looking forward to the release of new data: United States Building Permits (Mar) scheduled to come out tomorrow at 12:30 UTC.
The fund has been trending positively for about a month. IShares Global Clean Energy ETF has shed 8.29% over the past three months.
