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May 23, 2023
- Current prices are bouncing away from strong support at $151.12
- IShares 20+ Year Treasury Bond ETF's upper Bollinger Band® is at $107.26.
Technical analysis shows that iShares 20+ Year Treasury Bond ETF's bearish trend is facing a possible turning point at $100.37, which is only 37 cents away. Will be interesting to follow. Trend-focused traders would be interested to note that iShares 20+ Year Treasury Bond ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. According to asset volatility analysis, iShares 20+ Year Treasury Bond ETF's lower Bollinger Band® is at $100.27, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
For the time being, iShares 20+ Year Treasury Bond ETF remains flat without a clear direction.
Around $36.41, Real Estate Select Sector SPDR Fund can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Real Estate Select Sector SPDR Fund's lower Bollinger Band® is at $35.92, indicating that the market is oversold and fertile for new buyers. In contrast, Real Estate Select Sector SPDR Fund's run now faces a challenge at $36.73, which is only 28 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Real Estate Select Sector SPDR Fund might continue pointing upwards in the short term.
$151.93 marks the crossover point where iShares Russell 1000 Value ETF price action falls below its 200 day Simple Moving Average. IShares Russell 1000 Value ETF's upper Bollinger Band® is at $154.25, suggesting that a downward move may follow. Despite this, iShares Russell 1000 Value ETF's run now faces a challenge at $151.12, which is only 67 cents away and will be interesting to follow.
Despite the market lacking direction, technical chart analysis strongly suggests iShares Russell 1000 Value ETF is positioned for a downward move in the near term.
Upcoming fundamentals: as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -920,000, following on from the preceding figure of 5 million. New data is set to be published tomorrow at 14:30 UTC.
