IShares Global Clean Energy ETF remains constrained within a $21.08 to $21.6 range and is currently trading around the $21.1 level.
Highly important Producer Price Index data from United States beat analyst expectations of -0.1% with a reading of -0.5%. Core Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1.1%, continuing the decline from the previous figure of -0.6%. Highly important Retail Sales data from United States beat analyst expectations of -0.8% with a reading of -1.1%.
IShares Trust – iShares Global Clean Energy ETF made an initial break below its 3 day Simple Moving Average at $21.28, a possible indication of a forthcoming negative trend. IShares Global Clean Energy ETF's upper Bollinger Band® is at $21.43 which indicates a further downward move may follow. IShares Global Clean Energy ETF fell below the $21.23 support zone and moved 13 cents beyond it; the next level of support with significant buyer interest is estimated at $21.1.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for iShares Global Clean Energy ETF.
In the meantime, negative performances are also seen in other markets, Coca-Cola is trading around $59.77 (down $1.91). McDonald's is down $7.61 from the beginning of the session and now trades around $266.5. Verizon is down to $39.84, losing $1, after closing at $40.85 in the preceding trading session.
Looking ahead, ongoing depreciation may be prolonged as tomorrow at 16:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.75 million from the preceding figure of 18.96 million. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 214,000 from the preceding figure of 205,000.
Furthermore, United States Philadelphia Fed Manufacturing Index (Jan) scheduled to come out tomorrow at 13:30 UTC.
IShares Global Clean Energy ETF has managed to gain 8.81% so far this year despite trading at lows around $16.82 previously.