A quick look at Friday: a tough session dominated by bearish sentiment left ICLN 23 cents lower, while setting a $18.39 to $18.72 session range.
United States ISM Manufacturing PMI (Apr) is next today at 14:00 UTC.
Concerning technical analysis and more specifically, trend indicators, 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. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $18.62, a low enough level to, generally, suggest that iShares Global Clean Energy ETF is trading below its fair value. Technical chart analysis shows although iShares Global Clean Energy ETF is pointing down today (was as low as $18.39), it's climbing away from the $18.27 support line and is now 44 cents above it.
With market volatility ebbing, the current technical outlook indicates iShares Global Clean Energy ETF will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, Sanofi is down to $53.65, losing $2.44, after ending the previous session around $56.09. Sony Group Corporation dips 5.7% Friday and closed at $95.09.
Positive performances can be seen by looking at other markets as Mondelez International rallies 3.93% Friday and closed at $73.82.
Furthermore, United States JOLTs Job Openings (Mar) is expected tomorrow at 14:00 UTC. United States ISM Manufacturing PMI (Apr) will be released today at 14:00 UTC.
IShares Global Clean Energy ETF has fallen back around 19.78% from the significant high of $23.61 set 8 months ago.