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April 11, 2023
VLUE got off to a strong start by gaining 73.5 cents (+0.79%), only to run out of steam later in the session around $93.76. Currently, VLUE is trading around the $93.66 level.
IShares MSCI USA Value Factor ETF is currently trading at $93.66 following the release of EIA Short-Term Energy Outlook data from the United States.
At the same time, United States 3-Year Note Auction released today at 17:00 UTC with a figure of 3.81, while the previous figure was 4.635.
Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, iShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $94.04, this is a slight indication of a slowdown. As the trading day comes to an end, chart analysis indicates iShares MSCI USA Value Factor ETF broke through the $93.32 resistance and climbed above it 34 cents; next resistance level is at $93.71.
All in all, the technical analysis suggests iShares MSCI USA Value Factor ETF has no clear-cut direction.
IShares MSCI USA Value Factor ETF shows positive signs, other assets are also on par: having closed the previous session at $60.32, BHP Billiton is up 4.34% today to currently trade at around $62.94. Having closed the previous session at $67.19, Rio Tinto is up 4% today to currently trade at around $69.87. Caterpillar surges 2.95% to trade around $221.89.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with -1.3 million, having previously been at -3.74 million. The figure will be published tomorrow at 14:30 UTC.
Also worthy of note, United States Consumer Price Index figure is projected at 0.2%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
After hitting an important low of $81.86 approximately 6 months ago, iShares MSCI USA Value Factor ETF has bounced back 13.52% since.
