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May 14, 2023
- Real Estate Select Sector SPDR Fund's downward trend will be tested at $36.86 as key support
- The upper Bollinger Band® of ProShares UltraShort MSCI Brazil Capped is at $20.56.
Technical analysis trend indicators suggest that $36.93 marks the crossover point where The Real Estate Select Sector SPDR Fund price action falls below its 50 day Simple Moving Average. Analysis based on the asset volatility indicates that Real Estate Select Sector SPDR Fund's lower Bollinger Band® is at $36.47. Chart analysis indicates a persuasive break of this target could lead to higher losses.
For the time being, Real Estate Select Sector SPDR Fund remains flat without a clear direction.
Trend and momentum analysis indicates that ProShares UltraShort MSCI Brazil Capped's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. According to asset volatility analysis, ProShares UltraShort MSCI Brazil Capped's lower Bollinger Band® is at $16.43, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that a convincing break of this target could pave the way for deeper losses.
For the time being, ProShares UltraShort MSCI Brazil Capped remains flat without a clear direction.
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF chart analysis: Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF's downtrend might be halted by its support level at $13.52, which is only 7 cents away. Price action pushed below a known Fibonacci support level at $13.58 by around 1 cents with prices hammering out a $13.56 – $13.74 range by session close.
