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March 11, 2023
Yesterday at a glance: with a daily low of $20.06, ProShares UltraShort MSCI Brazil Capped closed yesterday at $20.87, after ending Thursday at $19.87 and gaining 99.72 cents (5%).
This move comes while some more positive signs for ProShares UltraShort MSCI Brazil Capped are out as United States Non Farm Payrolls beat the 205,000 projections, with 311,000.
Nevertheless, United States Unemployment Rate fell short of the 3.4 projections, with new data of 3.6.
Meanwhile, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.
ProShares UltraShort MSCI Brazil Capped could be slowing down soon as it approaches resistance at $21.19. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, ProShares UltraShort MSCI Brazil Capped slid below its 10 day Simple Moving Average at $20.19 during the last session — an early indicator that a negative trend could be emerging. ProShares UltraShort MSCI Brazil Capped's upper Bollinger Band® is at $21.32, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest ProShares UltraShort MSCI Brazil Capped is set for a reversal in the coming days.
Meanwhile, The Charles Schwab tumbles 11.69% yesterday and closed at $66.47. Caterpillar lost 5.79% yesterday and closed at $240.96. Deere & Company lost 6.05% yesterday and closed at $421.42.
The fund has been trending positively for about a month. ProShares UltraShort MSCI Brazil Capped is now trading 41.73% below the significant high of $34.1 it set around 7 months ago.
