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June 11, 2023
A quick look at Friday: bearish sentiment ensured iShares Global Clean Energy ETF finished Friday's session lower. However, despite the downward bias, iShares Global Clean Energy ETF etched out a distinct $18.47 to $18.72 session range.
Despite being in the red so far in the current trading session, iShares Trust – iShares Global Clean Energy ETF peaked above its 21 day Simple Moving Average around $18.69 — typically an early indicator of a new bullish trend beginning to emerge. IShares Global Clean Energy ETF's lower Bollinger Band® is at $18.28, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. IShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 9 cents away from $18.41. Dipping below could be an indication that further losses are ahead. Despite this, iShares Global Clean Energy ETF is currently flirting with an active Fibonacci support level around $18.61.
Technical analysis indicates that iShares Global Clean Energy ETF (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, ProLogis dips 2.88% Friday and closed at $124.91.
Positive performances can be seen by looking at other markets as Adobe added 3.41% and closed around $439.03 Friday. Tesla went up by 4.06% Friday, and closed at $244.4.
Trading mostly sideways for a month. 10 months ago iShares Global Clean Energy ETF reached a significant high of $23.61 but has consequently lost 21.3% since then.
