ICLN falls back to $19.59 after shedding 1% Friday

Friday at a glance: a tough session dominated by bearish sentiment left ICLN 20 cents lower, while setting a $19.43 to $19.77 session range.

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. IShares Global Clean Energy ETF made an initial break below its 50 day Simple Moving Average at $19.47, a possible indication of a forthcoming negative trend. IShares Global Clean Energy ETF is currently flirting with an active Fibonacci support level around $19.68. IShares Global Clean Energy ETF's upper Bollinger Band® is at $19.97 which indicates a further downward move may follow. On the other hand, note that although iShares Global Clean Energy ETF is down today and was as low as $19.43, it seems to be recovering slightly and climbing away from the $19.42 support line and is now 17 cents above it.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts iShares Global Clean Energy ETF to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the iShares Global Clean Energy ETF is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, after ending Friday's session at $213.59, Boeing lost $11.88 and is trading around $201.71.

Positive performances can be seen by looking at other markets as JP Morgan Chase skyrockets 7.55% Friday and closed at $129. BlackRock went up by 3.07% Friday, and closed at $691.33.

The fund has been trending positively for about 28 days. IShares Global Clean Energy ETF has shed 8.21% over the past three months.