ICLN falls back to $18.61 after shedding 4.12% today

Today at a glance: a tough session dominated by bearish sentiment left ICLN 80 cents lower, while setting a $18.53 to $19.05 session range.

United States's Crude Oil Inventories new data released of -5 million below its previous figure.

United States Crude Oil Inventories fell short of the -1.49 million projections, with new data of -5 million.

In contrast, positive data for iShares Global Clean Energy ETF reported earlier when United States Core Durable Goods Orders came out at 0.3%, better than analyst estimates of -0.2% and improving upon the previous reading of -0.3%.

Amid the market gloom, United States New Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000.

Trend and momentum analysis indicates that 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. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $18.77, a low enough level to, generally, suggest that iShares Global Clean Energy ETF is trading below its fair value. Chart analysis indicates iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 20 cents away from $18.41. Dipping below could be an indication that further losses are ahead.

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, after ending today's session at $77.82, NextEra Energy lost $3.75 and is trading around $74.07. After ending today's session at $101.09, Raytheon Technologies lost $3.41 and is trading around $97.68.

Positive performances can be seen by looking at other markets as Microsoft is trading around $295.37 after ending today's session at $275.42 (up 7.24% today).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Pending Home Sales projected to come out at 0.5% — worse than previous data of 0.8%; data will be released tomorrow at 14:00 UTC. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of two, following on from the preceding figure of 2.6. New data is set to be published tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 248,000 from the preceding figure of 245,000.

IShares Global Clean Energy ETF is now trading 9.43% below its 3-month high of $23.61.