VLUE closed at $89.86 after losing 1.65% yesterday

Yesterday at a glance: a tough session dominated by bearish sentiment left VLUE $1.51 lower, while setting a $89.08 to $91.1 session range.

While price action maintains a negative bias, United States JOLTs Job Openings (Mar) released yesterday at 14:00 UTC with a figure of 9.59 million, while the previous figure was 9.97 million. United States API Weekly Crude Oil Stock came out at -3.94 million, while a consensus of analysts was expecting -1,000,000. United States Factory Orders fell short of the 1.1% projections, with new data of 0.9%.

IShares MSCI USA Value Factor ETF made an initial break below its 5 day Simple Moving Average at $90.56, a possible indication of a forthcoming negative trend. On the other hand, note that iShares MSCI USA Value Factor ETF could begin to recover as it approaches significant support, now 99 cents away from $88.87. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $89.22, a low enough level to, generally, suggest that iShares MSCI USA Value Factor ETF is trading below its fair value.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for iShares MSCI USA Value Factor ETF.

In the meantime, negative performances are also seen in other markets, BP is down to $36.78, losing $3.22, after ending the previous session around $40. Chevron lost 4.31% yesterday and closed at $167.24. Exxon Mobil drops 4% yesterday and closed at $114.67.

Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 240,000, following on from the preceding figure of 230,000. New data is set to be published tomorrow at 12:30 UTC.

In addition, United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million, having previously been at -5 million. The figure will be published today at 14:30 UTC.

Furthermore, United States Interest Rate is expected today at 18:00 UTC.

IShares MSCI USA Value Factor ETF has shed 9.58% over the past three months.