| 
April 22, 2023
Yesterday at a glance: after ending Thursday at $108.93, iShares iBoxx $ Investment Grade Corporate Bond ETF went up to $109.4 only to drop back to its starting point and close at $109.
IShares iBoxx $ Investment Grade Corporate Bond ETF's state is reflected by market data as United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 244,600, while the previous figure was 235,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 189,900, while the previous figure was 192,700.
IShares iBoxx $ Investment Grade Corporate Bond ETF made an initial break below its 21 day Simple Moving Average at $109.26, a possible indication of a forthcoming negative trend. On the other hand, note that iShares iBoxx $ Investment Grade Corporate Bond ETF is approaching key support, around 37 cents away from $108.63. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests iShares iBoxx $ Investment Grade Corporate Bond ETF is positioned for a downward move in the near term.
While iShares iBoxx $ Investment Grade Corporate Bond ETF was pretty flat yesterday, mixed performances were seen elsewhere as notably, Procter & Gamble rose 3.46% yesterday and closed at $150.85. Novo Nordisk is trading around $172.65 after ending yesterday's session at $165.37 (up 4.4% today). SAP jumps 5.59% yesterday and closed at $126.86.
6 months ago, iShares iBoxx $ Investment Grade Corporate Bond ETF fell to a low of $99.2 but has since recovered 9.81%.
