| 
March 11, 2023
Yesterday at a glance: iShares Global Clean Energy ETF dipped as low as $19.03 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($19.54) with iShares Global Clean Energy ETF closing the day at $19.17.
Data from United States concerning Unemployment Rate was released yesterday at 13:30 UTC. Newly published figures emphasized continued decline from last month's figure of 3.4 to 3.6 this month.
On the flip side, highly important Non Farm Payrolls data from United States beat analyst expectations of 205,000 with a reading of 311,000.
While price action maintains a negative bias, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.
IShares Trust – iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 24 cents away from $18.93. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, iShares Global Clean Energy ETF peaked above its 21 day Simple Moving Average around $19.58 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $18.89, a low enough level to, generally, suggest that iShares Global Clean Energy ETF is trading below its fair value. On the other hand, note that iShares Global Clean Energy ETF is currently flirting with an active Fibonacci support level around $19.38.
Overall, looking at the technical analysis landscape, it seems iShares Global Clean Energy ETF —which is 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, after ending yesterday's session at $66.47, The Charles Schwab lost $7.77 and is trading around $58.7. Caterpillar lost 5.79% yesterday and closed at $240.96. After ending yesterday's session at $421.42, Deere & Company lost $25.49 and is trading around $395.93.
IShares Global Clean Energy ETF traded as high as $23.61 before shedding 16.19% lower over the past six months.
