- Bullish session prepares challenge of $40.48 level, currently 20 cents above current price of $40.28
- SPDR Portfolio S&P 500 Growth ETF's upper Bollinger Band® is at $55.79 which indicates a further downward move may follow.
IShares MSCI Eurozone ETF's run now faces a challenge at $40.48, which is only 20 cents away and will be interesting to follow. Despite posting gains on yesterday, iShares MSCI Eurozone ETF slid below its 10 day Simple Moving Average at $40.2 during the last session — an early indicator that a negative trend could be emerging.
IShares MSCI Eurozone ETF is likely to reverse course and start pointing downward in the short term.
IShares MSCI Taiwan ETF's bullish momentum is stalling and could turn negative in the short-term after the MACD crossed below its signal line — typically considered to be an early indicator of forthcoming bearish momentum. On the other hand, note that iShares MSCI Taiwan ETF is trending down and heading towards $49.09, which is only 30 cents away now. Hitting this support line might signal a change of direction.
Despite the market lacking direction, technical chart analysis strongly suggests iShares MSCI Taiwan ETF is positioned for a downward move in the near term.
Despite this, a persuasive break of this target could lead to higher losses.
Fundamental indicators – United States Crude Oil Inventories fell short of the -3.31 million projections, with new data of -5.19 million.
Upcoming fundamentals: United States Initial Jobless Claims projected to decline to 230,000 while previous data was 225,000; data will be released today at 13:30 UTC.