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February 24, 2023
IShares Global Clean Energy ETF is down to $18.83, after ending yesterday at $19.29. Overall, a 2.38% loss or 46 cents today.
IShares Global Clean Energy ETF is currently trading at $18.83 following the release of New Home Sales (Jan) data from the United States.
In contrast, positive data for iShares Global Clean Energy ETF reported earlier when highly important Crude Oil Inventories data from United States beat analyst expectations of 2 million with a reading of 7.65 million.
While price action maintains a negative bias, United States New Home Sales (Jan) released today at 15:00 UTC with a figure of 670,000, while the previous figure was 625,000. United States Core PCE Price Index (MoM) (Jan) came out at 0.6, while a consensus of analysts was expecting 0.4.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. IShares Global Clean Energy ETF has just crossed the lower Bollinger Band® at $18.85, indicating further losses could be forthcoming.
In the short term, iShares Global Clean Energy ETF is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, Adobe tumbles 7.76% to trade around $320.11. After ending yesterday's session at $208.13, Boeing lost $9.46 and is trading around $198.67. Alibaba dips 4.19% to trade around $90.21.
All in all, the fund has been on a negative trend for around a month. Having soared to a high of $23.61 approximately 6 months ago, iShares Global Clean Energy ETF is now trading 18.3% lower.
