ProLogis is around $125.42 after gaining 2.4%

ProLogis rallies $2.94 (2.4%) and maintains the $125.42 level as it reaches the end of session.

ProLogis is currently trading at $125.42 following the release of FOMC Press Conference data from the United States.

On the flip side, United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.

At the same time, United States Interest Rate released today at 18:00 UTC with a figure of 5.25, while the previous figure was five. United States ISM Non-Manufacturing PMI (Apr) came out at 51.9, while a consensus of analysts was expecting 51.8.

ProLogis broke through the $123.53 resistance and climbed above it $1.89; next resistance level is at $124.59. ProLogis made an initial breakout above its 21 day Simple Moving Average at $122.75, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $122.31 to $126.07, Fibonacci-inclined ProLogis traders were highly concentrated around active Fibonacci resistance at $124.77. On the other hand, note that Bollinger Band® analysis indicates that current price action is approaching the upper band at $125.96, thereby suggesting that ProLogis is becoming overvalued.

Overall, looking at the technical analysis landscape, it seems ProLogis likely to continue pointing upward in the short term.

Also worthy of note, projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 230,000; data will be released tomorrow at 12:30 UTC.

The stock has been trending positively for about a month. The US REIT is now trading 8.93% below its 3-month high of $153.13.