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May 31, 2023
After closing the previous trading day at $17.45, ProShares UltraShort MSCI Brazil Capped is up to $18.04, which makes for a move of 3.36%/58.56 cents today.
ProShares UltraShort MSCI Brazil Capped is currently trading at $18.04 following the release of JOLTs Job Openings (Apr) data from the United States.
ProShares UltraShort MSCI Brazil Capped upside coincides with further encouraging market factors as highly important Consumer Confidence data from United States beat analyst expectations of 99 with a reading of 102.3.
At the same time, United States JOLTs Job Openings (Apr) released today at 14:00 UTC with a figure of 10.10 million, while the previous figure was 9.74 million. United States OPEC Crude Oil Production Algeria (Barrel) came out at 960,000, while a consensus of analysts was expecting 960,000.
ProShares UltraShort MSCI Brazil Capped could be slowing down soon; it is getting close to the resistance line and is now at $17.98, only 6 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. ProShares UltraShort MSCI Brazil Capped's upper Bollinger Band® is at $19.04, this is a slight indication of a slowdown.
Overall, looking at the technical analysis landscape, it seems ProShares UltraShort MSCI Brazil Capped is likely to reverse course and start pointing down in the short term.
ProShares UltraShort MSCI Brazil Capped shows positive signs, other assets are also on par: Verizon is up 2.28%.
At the same time, Wells Fargo & Company closed at $39.35 (down 3.98%). Toyota dips 1.85% to trade around $135.18.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million, having previously been at -12.46 million. The figure will be published tomorrow at 15:00 UTC.
Furthermore, the market is looking at United States Initial Jobless Claims projected to come out at 235,000 — worse than previous data of 229,000; data will be released tomorrow at 12:30 UTC.
Elsewhere, United States ADP Nonfarm Employment Change (May) is expected tomorrow at 12:15 UTC.
Having set a significant low of $16.3 16 days ago, ProShares UltraShort MSCI Brazil Capped is trading 7.06% higher.
