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June 01, 2023
Yesterday at a glance: a tough session dominated by bearish sentiment left ICLN 20 cents lower, while setting a $18.14 to $18.49 session range.
United States ADP Nonfarm Employment Change (May) is next today at 12:15 UTC.
Meanwhile, United States JOLTs Job Openings (Apr) released yesterday at 14:00 UTC with a figure of 10.10 million, while the previous figure was 9.74 million. United States API Weekly Crude Oil Stock came out at 5.20 million, while a consensus of analysts was expecting -1.22 million. United States OPEC Crude Oil Production Algeria (Barrel) released yesterday at 14:15 UTC with a figure of 960,000, while the previous figure was 1,000,000.
Trend-focused traders would be interested to note 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. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $18.16, a low enough level to, generally, suggest that iShares Global Clean Energy ETF is trading below its fair value. Visual analysis of iShares Global Clean Energy ETF's chart shows that iShares Global Clean Energy ETF bounced after reaching the $18.16 support zone, climbing 18 cents above it.
Overall, the technical outlook suggests iShares Global Clean Energy ETF is likely to remain muted for the immediate future, with no clear-cut direction.
Positive performances can be seen by looking at other markets as Pfizer went up by 2.73% yesterday, and closed at $38.02. Intel added 4.83% and closed around $30 yesterday. Verizon went up by 2.09% yesterday, and closed at $35.63.
Looking ahead, ongoing depreciation may be prolonged as tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 253,000.
Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million, having previously been at -12.46 million. The figure will be published today at 15:00 UTC.
Furthermore, United States ADP Nonfarm Employment Change (May) is scheduled for today at 12:15 UTC.
9 months ago iShares Global Clean Energy ETF reached a significant high of $23.61 but has consequently lost 21.47% since then.
