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June 06, 2023
- Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares overcomes resistance at $40.72
- The lower Bollinger Band® is currently at $83.02 while the higher band is at $88.46
Around $40.69, Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares can look to establish a new bullish phase beyond its 21 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $40.78 by around 17.832 cents with prices hammering out a $40.48 – $40.98 session range. Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares broke through the $40.72 resistance, climbing 23 cents above it. Despite this, Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares has formed a "bearish harami” pattern.
Overall, looking at the technical analysis landscape, it seems Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares might continue pointing upwards in the short term.
Around $36.7, Real Estate Select Sector SPDR Fund can look to establish a new bullish phase beyond its 50 day Simple Moving Average. On the other hand, note that Real Estate Select Sector SPDR Fund's run now faces a challenge at $36.94, which is only 13 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Real Estate Select Sector SPDR Fund might continue pointing upwards in the short term.
Technical analysis trend indicators suggest that SPDR S&P Biotech ETF's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Asset volatility analysis shows that SPDR S&P Biotech ETF's upper Bollinger Band® is at $88.46. As the trading day comes to an end, chart analysis indicates SPDR S&P Biotech ETF's recent run now faces a major challenge as concentrated supply is likely found at $87.44 with price action currently 46 cents away.
Overall, while SPDR S&P Biotech ETF has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – United States ISM Non-Manufacturing PMI (May) released yesterday at 14:00 UTC with a figure of 50.3, while the previous figure was 51.9.
Upcoming fundamentals: as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.15 million, following on from the preceding figure of 4.49 million. New data is set to be published tomorrow at 14:30 UTC.
