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June 08, 2023
Today at a glance: iShares Global Clean Energy ETF recovered all the way back up to $18.58 after dipping down to $18.48.
On the flip side, Initial Jobless Claims in United States fell short of market expectations (235,000) with a reading of 261,000, continuing the decline from the previous figure of 233,000. Data from United States concerning Crude Oil Inventories was released yesterday at 14:30 UTC. Newly published figures emphasized continued decline from last month's figure of 4.49 million to -451,000 this month.
At the same time, United States Fed's Balance Sheet released today at 20:30 UTC with a figure of 8.39 trillion, while the previous figure was 8.39 trillion.
Trend and momentum analysis indicates that despite posting gains on today, iShares Trust – iShares Global Clean Energy ETF slid below its 10 day Simple Moving Average at $18.59 during the last session — an early indicator that a negative trend could be emerging. Analysis based on the asset volatility indicates that iShares Global Clean Energy ETF's lower Bollinger Band® is at $18.28, indicating that the market is oversold and fertile for new buyers. Analysis of iShares Global Clean Energy ETF's recent price action suggests iShares Global Clean Energy ETF could be slowing down soon as it approaches resistance at $18.69. Of course, crossing it might suggest further gains are ahead.
Overall, the technical outlook suggests iShares Global Clean Energy ETF is likely to remain muted for the immediate future, with no clear-cut direction.
Other markets are also showing gains as Adobe went up by 4.95% today, and closed at $439.03. Novartis added 2.18% and closed around $98.5 today. Tesla soars 4.58% today and closed at $224.57.
Trading mostly sideways for a month. Approximately 9 months ago, iShares Global Clean Energy ETF reached a significant high of $23.61 but has struggled to hold onto its gains and declined 21.52% since then.
