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May 30, 2023
- ETFMG Alternative Harvest ETF's CCI indicator is below -100
- Direxion Daily Energy Bull 2X Shares's upper Bollinger Band® is at $55.08 which indicates a further downward move may follow.
With regards to technical trend indicators, chart analysis show that ETFMG Alternative Harvest ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Analysis based on the asset volatility indicates that the lower Bollinger Band® of ETFMG Alternative Harvest ETF is at $3.04.
For the time being, ETFMG Alternative Harvest ETF remains flat without a clear direction.
ProShares Ultra Bloomberg Natural Gas's bullish momentum is stalling and could turn negative in the short-term after the MACD crossed below its signal line — typically considered to be an early indicator of forthcoming bearish momentum. On the other hand, note that Bollinger Bands® shows an indication of recovery: the lower band is at $2.44, a low enough level to, generally, suggest that ProShares Ultra Bloomberg Natural Gas is trading below its fair value.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for ProShares Ultra Bloomberg Natural Gas.
Direxion Daily Energy Bull 2X Shares's bullish momentum is stalling and could turn negative in the short-term after the MACD crossed below its signal line — typically considered to be an early indicator of forthcoming bearish momentum. Despite this, Direxion Daily Energy Bull 2X Shares's lower Bollinger Band® is now at $49.65.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Direxion Daily Energy Bull 2X Shares.
Fundamental indicators – United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Mar) came out at -1.1, while a consensus of analysts was expecting -1.6.
Upcoming fundamentals: United States Consumer Confidence expected to decline to 99 while its preceding data was 101.3, data will be available today at 14:00 UTC.
