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June 24, 2023
A quick look at yesterday: a tough session dominated by bearish sentiment left ICLN 30 cents lower, while setting a $17.75 to $17.88 session range.
Amid the market gloom, United States Services PMI came out at 54.1, while a consensus of analysts was expecting 54. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 166,500, while the previous figure was 155,100. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 163,000, while the previous figure was 160,200.
IShares Global Clean Energy ETF's notable support and resistance levels: iShares Trust – iShares Global Clean Energy ETF could begin to recover as it approaches significant support, now 5 cents away from $17.73. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, iShares Global Clean Energy ETF's lower Bollinger Band® is at $17.89, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
All in all, the technical analysis suggests iShares Global Clean Energy ETF has no clear-cut direction.
All in all, the fund has been on a negative trend for around a month. Having soared to a high of $23.61 approximately 10 months ago, iShares Global Clean Energy ETF is now trading 23.42% lower.
