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February 27, 2023
- Ongoing downtrend raises chances of a persuasive break of existing support at $93.77
- IShares MSCI USA Value Factor ETF's upper Bollinger Band® is at $100.
Concerning technical analysis and more specifically, trend indicators, U.S. Global Jets ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Asset volatility analysis shows that U.S. Global Jets ETF's lower Bollinger Band® is at $19.04, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of U.S. Global Jets ETF's historical price actions shows U.S. Global Jets ETF's bearish trend is facing a possible turning point at $19, which is only 34 cents away. Will be interesting to follow.
For the time being, U.S. Global Jets ETF remains flat without a clear direction.
IShares MSCI USA Value Factor ETF made an initial foray below its 200 day Simple Moving Average around $93.64. IShares MSCI USA Value Factor ETF is currently flirting with an active Fibonacci support level around $93.68. On the other hand, note that iShares MSCI USA Value Factor ETF's lower Bollinger Band® is at $93.97. $93.77 is only 54 cents away for iShares MSCI USA Value Factor ETF and might put a stop to its current downtrend.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for iShares MSCI USA Value Factor ETF.
Trend analysis indicates that ProShares UltraShort MSCI Brazil Capped's CCI indicator is above +100. Price action overcame a known Fibonacci resistance level at $19.8 by around 16.148 cents with prices hammering out a $19.75 – $20.15 session range. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $20.51, thereby suggesting that ProShares UltraShort MSCI Brazil Capped is becoming overvalued. Visual analysis of ProShares UltraShort MSCI Brazil Capped's chart shows that ProShares UltraShort MSCI Brazil Capped's recent run now faces a major challenge as concentrated supply is likely found at $20.21 with price action currently 25 cents away.
For the time being, ProShares UltraShort MSCI Brazil Capped remains flat without a clear direction.
Upcoming fundamentals: United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released today at 13:30 UTC.
