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May 08, 2023
A quick look at Friday: with a daily low of $18.32, iShares Global Clean Energy ETF closed Friday at $18.63, after ending Thursday at $18.28 and gaining 35 cents (1.91%).
IShares Trust – iShares Global Clean Energy ETF could be slowing down soon as it approaches resistance at $18.74. Of course, crossing it might suggest further gains are ahead. Despite posting gains on Friday, iShares Global Clean Energy ETF slid below its 5 day Simple Moving Average at $18.37 during the last session — an early indicator that a negative trend could be emerging. Despite this, price action overcame a known Fibonacci resistance level at $18.61 by around 2 cents with prices hammering out a $18.32 – $18.64 session range.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates iShares Global Clean Energy ETF is set for a reversal in the coming days.
Other markets are also showing gains as Apple rallies 4.69% Friday and closed at $165.79. Walt Disney is trading around $100.52 after ending Friday's session at $97.45 (up 3.15% today). BHP Billiton is trading around $60.79 after ending Friday's session at $58.18 (up 4.49% today).
Furthermore, the market is looking at United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.
Having set a significant high of $23.61 8 months ago, iShares Global Clean Energy ETF is trading 22.58% lower.
