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April 14, 2023
As the current session draws to a close, iShares Global Clean Energy ETF remains in the $19.43 – $19.77 range after dropping 1.09%.
Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%. Highly important Retail Sales data from United States beat analyst expectations of -0.4% with a reading of -1%. Highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.
IShares Trust – iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 22 cents away from $19.57. Dipping below could be an indication that further losses are ahead. IShares Global Clean Energy ETF made an initial break below its 50 day Simple Moving Average at $19.47, a possible indication of a forthcoming negative trend. Price action pushed below a known Fibonacci support level at $19.68 by around 10.5 cents with prices hammering out a $19.43 – $19.77 range by session close. IShares Global Clean Energy ETF's upper Bollinger Band® is at $20 which indicates a further downward move may follow.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts iShares Global Clean Energy ETF to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the iShares Global Clean Energy ETF is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Boeing is trading around $201.78 (down $11.81).
Other assets are showing positive performances as having closed the previous session at $129, JP Morgan Chase is up 7.62% today to currently trade at around $138.82. BlackRock jumps 3.31% to trade around $692.91.
IShares Global Clean Energy ETF is now trading 6.74% below its 3-month high of $23.61.
