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June 10, 2023
A quick look at yesterday: bearish sentiment ensured iShares Global Clean Energy ETF finished yesterday's session lower. However, despite the downward bias, iShares Global Clean Energy ETF etched out a distinct $18.47 to $18.72 session range.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 175,600, while the previous figure was 169,300. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 8,800, while the previous figure was 8,500.
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. On the other hand, note that iShares Global Clean Energy ETF is currently flirting with an active Fibonacci support level around $18.61.
Technical analysis shows that iShares Global Clean Energy ETF (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other markets, ProLogis is down to $121.31, losing $3.6, after ending the previous session around $124.91.
Other assets are showing positive performances as Adobe is trading around $454 after ending yesterday's session at $439.03 (up 3.41% today). Tesla is trading around $244.4 after ending yesterday's session at $234.86 (up 4.06% today).
Trading mostly sideways for a month. IShares Global Clean Energy ETF has fallen back around 21.3% from the significant high of $23.61 set 9 months ago.
