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April 13, 2023
A quick look at yesterday: after ending Tuesday at $19.47, iShares Global Clean Energy ETF fell to $19.42. Overall, a 0.26% move or 5 cents yesterday.
Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 232,000. Potentially significant price fluctuations in iShares Global Clean Energy ETF are expected to follow.
On the flip side, positive data for iShares Global Clean Energy ETF released earlier when United States Crude Oil Inventories improved upon its previous reading of -3.74 million with a new data release of 597,000.
Meanwhile, United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 5%, while the previous figure was 6%.
IShares Trust – iShares Global Clean Energy ETF made an initial break below its 50 day Simple Moving Average at $19.5, a possible indication of a forthcoming negative trend. IShares Global Clean Energy ETF's upper Bollinger Band® is at $19.87 which indicates a further downward move may follow. On the other hand, note that iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 10 cents away from $19.32. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting iShares Global Clean Energy ETF to extend its recent losses.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at $99.76, Alibaba lost $5.92 and is trading around $93.84. After ending yesterday's session at $100.42, Walt Disney lost $2.48 and is trading around $97.94.
Positive performances can be seen by looking at other markets as Novo Nordisk jumps 3.25% yesterday and closed at $158.37.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Core Retail Sales data is projected to fall short of market expectations with newly published data of -0.3%, following on from the preceding figure of -0.1%. New data is set to be published tomorrow at 12:30 UTC. United States Initial Jobless Claims projected to come out at 232,000 — worse than previous data of 228,000; data will be released today at 12:30 UTC.
Some optimism can drawn from the fact that United States Producer Price Index is projected to outperform its last figure with 0.1%, having previously been at -0.1%. The figure will be published today at 12:30 UTC.
IShares Global Clean Energy ETF has shed 8.59% over the past three months.
