LQD closed at $107.76 after losing 0.72% yesterday

A quick look at yesterday: a tough session dominated by bearish sentiment left LQD 78 cents lower, while setting a $107.62 to $108.03 session range.

Although iShares iBoxx $ Investment Grade Corporate Bond ETF is pointing down today (was as low as $107.62), it's climbing away from the $107.58 support line and is now 18 cents above it. Despite being in the red so far in the current trading session, iShares iBoxx $ Investment Grade Corporate Bond ETF peaked above its 200 day Simple Moving Average around $107.72 — typically an early indicator of a new bullish trend beginning to emerge. IShares iBoxx $ Investment Grade Corporate Bond ETF's lower Bollinger Band® is at $107.7, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems iShares iBoxx $ Investment Grade Corporate Bond ETF is set to appreciate despite today's setback.

Positive performances can be seen by looking at other markets as Novo Nordisk leaps up 3.19% yesterday and closed at $163.24. Walt Disney added 2.44% and closed around $100.52 yesterday. AMD soars 5.79% yesterday and closed at $89.84.

Looking ahead, ongoing depreciation may be prolonged as projections for United States Crude Oil Inventories are set for a continuation of decline with -1.6 million while previous data was -1.28 million; data will be released tomorrow at 14:30 UTC.

Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.

Having set a significant low of $99.2 6 months ago, iShares iBoxx $ Investment Grade Corporate Bond ETF is trading 9.42% higher.