ICLN closed at $18.84 after losing 2.08% yesterday

Yesterday at a glance: a tough session dominated by bearish sentiment left ICLN 40 cents lower, while setting a $18.84 to $19.25 session range.

United States Retail Sales fell short of the 0.8% projections, with new data of 0.4%.

Nonetheless, encouraging indicators for iShares Global Clean Energy ETF published earlier when highly important Core Retail Sales data from United States beat analyst expectations of 0.4% with a reading of 0.4%.

Amid the market gloom, United States API Weekly Crude Oil Stock came out at 3.69 million, while a consensus of analysts was expecting -1.3 million.

IShares Trust – iShares Global Clean Energy ETF made an initial break below its 50 day Simple Moving Average at $19.14, a possible indication of a forthcoming negative trend. Price action pushed below a known Fibonacci support level at $19.11 by around 26.66 cents with prices hammering out a $18.84 – $19.25 range by session close. On the other hand, note that iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 14 cents away from $18.7. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting iShares Global Clean Energy ETF to extend its recent losses.

In the meantime, negative performances are also seen in other markets, after ending yesterday's session at $105.07, Exxon Mobil lost $2.55 and is trading around $102.52. After ending yesterday's session at $125.28, ProLogis lost $4.03 and is trading around $121.25.

Other assets are showing positive performances as notably, Alphabet rose 2.68% yesterday and closed at $116.96.

Looking ahead, ongoing depreciation may be prolonged as United States Crude Oil Inventories expected to decline to -920,000 while its preceding data was 2.95 million, data will be available today at 14:30 UTC.

Some optimism can drawn from the fact that United States Initial Jobless Claims is projected to outperform its last figure with 254,000, having previously been at 264,000. The figure will be published tomorrow at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (May) scheduled to come out tomorrow at 12:30 UTC.

Approximately 9 months ago, iShares Global Clean Energy ETF reached a significant high of $23.61 but has struggled to hold onto its gains and declined 18.51% since then.