ProShares UltraShort MSCI Brazil Capped breaks a 17 day downtrend, increases to $13

During a 17 day fall, dropping a total of 26.96%, ($4.93), A possible reversal detected from Friday; after ending Thursday at $12.89, ProShares UltraShort MSCI Brazil Capped spiked to $13.21 Friday, dropped back to starting point range, and rallied again to $13.

ProShares UltraShort MSCI Brazil Capped broke through the $13.18 resistance and climbed 16 cents above it. Despite posting gains on Friday, ProShares UltraShort MSCI Brazil Capped slid below its 5 day Simple Moving Average at $13.02 during the last session — an early indicator that a negative trend could be emerging.

Examining the technical analysis landscape, ProShares UltraShort MSCI Brazil Capped is likely to reverse course and start pointing downward in the short term.

At the same time, Toyota is down to $153.38, losing $3.73, after ending the previous session around $157.11. Accenture plc Class A (Ireland) dips 2.87% Friday and closed at $307.25.

Friday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Consumer Confidence is projected to outperform its last figure with 104, having previously been at 102.3. The figure will be published tomorrow at 14:00 UTC.

The market is looking forward to the release of new data: United States Building Permits scheduled to come out tomorrow at 12:00 UTC. United States New Home Sales (May) is expected tomorrow at 14:00 UTC.

All in all, the fund has been on a negative trend for around a month. ProShares UltraShort MSCI Brazil Capped has shed 43.5% over the past three months.