- Ongoing downtrend set to be challenged at $89.52 as top of an established support zone
- Vanguard High Dividend Yield Index ETF's upper Bollinger Band® at $108.27, suggesting a further decline is forthcoming.
Trend and momentum analysis indicates that iShares Core S&P Total U.S. Stock Market ETF made an initial foray below its 21 day Simple Moving Average around $90.63. IShares Core S&P Total U.S. Stock Market ETF is hovering around the $90.31 Fibonacci support level. Analysis based on the asset volatility indicates that the lower Bollinger Band® of iShares Core S&P Total U.S. Stock Market ETF is at $89.25. A study of iShares Core S&P Total U.S. Stock Market ETF's chart reveals various key levels to watch: iShares Core S&P Total U.S. Stock Market ETF is trending down and heading towards $89.52, which is only 78 cents away now. Hitting this support line might signal a change of direction.
For the time being, iShares Core S&P Total U.S. Stock Market ETF remains flat without a clear direction.
$105.61 marks the crossover point where Vanguard High Dividend Yield Index ETF price action falls below its 50 day Simple Moving Average. Bearish sentiment was sufficient to push prices below the known Fib level of $105.42 serving as intraday support. On the other hand, note that Vanguard High Dividend Yield Index ETF's lower Bollinger Band® is at $104.73, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A convincing break of this target could pave the way for deeper losses.
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 Vanguard High Dividend Yield Index ETF.
Concerning technical analysis and more specifically, trend indicators, around $19.16, ProShares UltraShort MSCI Brazil Capped can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $19.65 by around 22 cents with prices hammering out a $19.05 – $20 session range. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $20.96, thereby suggesting that ProShares UltraShort MSCI Brazil Capped is becoming overvalued. Analysis of ProShares UltraShort MSCI Brazil Capped's recent price action suggests ProShares UltraShort MSCI Brazil Capped's recent run now faces a major challenge as concentrated supply is likely found at $20.23 with price action currently 36 cents away.
Notwithstanding ProShares UltraShort MSCI Brazil Capped's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States JOLTs Job Openings (Mar) came out at 9.59 million, while a consensus of analysts was expecting 9.78 million.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million. It previously stood at -5 million; data will be released tomorrow at 14:30 UTC.