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April 05, 2023
IShares Global Clean Energy ETF is sharply lower after losing 33.5 cents, declining as low as $19.12.
United States Crude Oil Inventories didn't cause a noticeable effect even though it falls short expectations with -3.74 million.
United States Crude Oil Inventories released earlier showed a marked improvement to -3.74 million from the preceding data of -7.49 million, but fell short of the -2.33 million figure forecast by a consensus of market analysts.
While price action maintains a negative bias, United States ISM Non-Manufacturing PMI (Mar) released today at 14:00 UTC with a figure of 51.2, while the previous figure was 55.1. United States ADP Nonfarm Employment Change (Mar) came out at 145,000, while a consensus of analysts was expecting 200,000.
IShares Trust – iShares Global Clean Energy ETF pushed below the $19.35 support level and extended 23 cents beyond it. IShares Global Clean Energy ETF made an initial break below its 21 day Simple Moving Average at $19.15, a possible indication of a forthcoming negative trend.
In the short term, iShares Global Clean Energy ETF is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, Deere & Company dips 5.12% to trade around $377.3.
Other assets are showing positive performances as having closed the previous session at $158.49, Johnson & Johnson is up 3.24% today to currently trade at around $163.62. Pfizer gained 2.85% and is now trading at $42.06.
Looking ahead, ongoing depreciation may be prolonged as United States Initial Jobless Claims projected to decline to 200,000 while previous data was 198,000; data will be released tomorrow at 12:30 UTC.
IShares Global Clean Energy ETF reached a significant high of $23.61 around 7 months ago but has lost 17.58% since then.
