Oversold? | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares pushes below -100 CCI threshold

• Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's CCI indicator is below -100
• Upper Bollinger Band® currently at $15.46

Trend-focused traders would be interested to note that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Asset volatility analysis shows that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's lower Bollinger Band® is at $12.31, indicating that the market is oversold and fertile for new buyers.

For the time being, Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares remains flat without a clear direction.

Fundamental indicators – United States Factory Orders released today at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.

Upcoming fundamentals: United States Fed Chair Powell testimony is scheduled for tomorrow at 15:00 UTC.