- Strong bullish sentiment set to meet bearish fightback around key resistance at $22.16, currently 9 cents away
- Upper Bollinger Band® currently at $60.23
Despite posting gains on yesterday, iShares, Inc. – iShares MSCI Hong Kong ETF slid below its 3 day Simple Moving Average at $21.89 during the last session — an early indicator that a negative trend could be emerging. IShares MSCI Hong Kong ETF's upper Bollinger Band® is at $22.19. IShares MSCI Hong Kong ETF's run now faces a challenge at $22.16, which is only 9 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Technical analysis of iShares MSCI Hong Kong ETF price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
It will be interesting to follow how Vanguard FTSE Developed Markets ETF's run now faces a challenge at $43.9, which is only 38 cents away. Despite posting gains on yesterday, Vanguard FTSE Developed Markets ETF slid below its 21 day Simple Moving Average at $42.5 during the last session — an early indicator that a negative trend could be emerging. Vanguard FTSE Developed Markets ETF's upper Bollinger Band® is now at $43.87.
Examining the technical analysis landscape, Vanguard FTSE Developed Markets ETF is likely to reverse course and start pointing downward in the short term.
Support/Resistance levels obtained from chart analysis indicate that iShares Core MSCI Total International Stock ETF's run now faces a challenge at $60.71, which is only 48 cents away and will be interesting to follow. Concerning technical analysis and more specifically, trend indicators, iShares Core MSCI Total International Stock ETF's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $60.23, thereby suggesting that iShares Core MSCI Total International Stock ETF is becoming overvalued.
For the time being, iShares Core MSCI Total International Stock ETF remains flat without a clear direction.
Fundamental indicators – United States ISM Non-Manufacturing PMI (Dec) released yesterday at 15:00 UTC with a figure of 49.6, while the previous figure was 56.5.