| 
June 14, 2023
Yesterday at a glance: the real estate investment trust went up to $121.35, gaining 1.45%.
United States Producer Price Index data will be released today at 12:30 UTC, with an expected decline to -0.1%.
Meanwhile, United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 4%, while the previous figure was 4.9%. United States Core Consumer Prices came out at 0.4%, while a consensus of analysts was expecting 0.4%.
Technical analysis trend indicators suggest that 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. Analysis based on the asset volatility indicates that ProLogis's lower Bollinger Band® is at $119.44, indicating that the market is oversold and fertile for new buyers. Technical analysis shows that ProLogis is 84 cents away from testing key resistance at $122.19. Peaking above this level could inspire market bulls and open the path to further gains.
All in all, the technical analysis suggests ProLogis has no clear-cut direction.
Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with 1.48 million. It previously stood at -451,000; data will be released today at 14:30 UTC.
Furthermore, the market is looking at United States Producer Price Index projected to decline to -0.1% while previous data was 0.2%; data will be released today at 12:30 UTC. As things stand, upcoming United States Retail Sales data is projected to fall short of market expectations with newly published data of -0.1%, following on from the preceding figure of 0.4%. New data is set to be published tomorrow at 12:30 UTC.
Trending downwards for around a month. 8 months ago, the US REIT fell to a low of $98.9 but has since recovered 20.95%.
