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April 19, 2023
Yesterday at a glance: iShares Global Clean Energy ETF recovered back to $19.9 after dipping down to $19.76, in a session that followed Monday's $19.91 close value.
United States Crude Oil Inventories is next.
IShares Global Clean Energy ETF's state is reflected by market data as United States Building Permits (Mar) released yesterday at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. United States API Weekly Crude Oil Stock came out at -2.67 million, while a consensus of analysts was expecting -2.46 million. Following a previous reading of 7.3%, Housing Starts in United States released yesterday at 12:30 UTC fell short of the 0.4% figure expected by analysts with an actual reading of -0.8%.
With regards to technical trend indicators, chart analysis show that investors are seeking long positions as iShares Trust – iShares Global Clean Energy ETF price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, iShares Global Clean Energy ETF's upper Bollinger Band® is at $20.15, suggesting that a downward move may follow. A study of iShares Global Clean Energy ETF's chart reveals various key levels to watch: iShares Global Clean Energy ETF bounced after reaching the $19.78 support zone, climbing 12 cents above it.
Notwithstanding iShares Global Clean Energy ETF's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
While iShares Global Clean Energy ETF was pretty flat yesterday, mixed performances were seen elsewhere as Johnson & Johnson lost 2.81% yesterday and closed at $165.67. The Blackstone Group Inc. rallies 4.9% yesterday and closed at $87.23. Notably, Lockheed Martin rose 2.4% yesterday and closed at $489.64.
Data to be released today might clear up some of the market fog as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -1 million, following on from the preceding figure of 597,000. New data is set to be published today at 14:30 UTC. United States Philadelphia Fed Manufacturing Index (Apr) scheduled to come out tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) is expected tomorrow at 14:00 UTC.
The fund has been trending positively for about a month. 8 months ago iShares Global Clean Energy ETF reached a significant high of $23.61 but has consequently lost 15.67% since then.
