- Bullish session prepares challenge of $47.05 level, currently 12 cents above current price of $47.17
- Upper Bollinger Band® currently at $46.89
Trend-following investors would be interested to note that iShares 1-5 Year Investment Grade Corporate Bond 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 iShares 1-5 Year Investment Grade Corporate Bond ETF's upper Bollinger Band® is at $49.49, suggesting that a downward move may follow. Chart analysis suggests iShares 1-5 Year Investment Grade Corporate Bond ETF's run now faces a challenge at $49.46, which is only 18 cents away and will be interesting to follow.
Overall, while iShares 1-5 Year Investment Grade Corporate Bond ETF has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Concerning technical analysis and more specifically, trend indicators, Schwab U.S. Large-Cap ETF's CCI indicator is above +100. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $46.89, thereby suggesting that Schwab U.S. Large-Cap ETF is becoming overvalued. A study of Schwab U.S. Large-Cap ETF's historical price actions shows it will be interesting to follow how Schwab U.S. Large-Cap ETF's run now faces a challenge at $47.05, which is only 12 cents away.
For the time being, Schwab U.S. Large-Cap ETF remains flat without a clear direction.
Trend-focused traders would be interested to note that ProShares UltraShort 20+ Year Treasury's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Asset volatility analysis shows that ProShares UltraShort 20+ Year Treasury's lower Bollinger Band® is at $33.39, indicating that the market is oversold and fertile for new buyers. Chart analysis indicates ProShares UltraShort 20+ Year Treasury's run now faces a challenge at $34.96, which is only 73 cents away and will be interesting to follow.
For the time being, ProShares UltraShort 20+ Year Treasury remains flat without a clear direction.
Fundamental indicators – United States U.S. Baker Hughes Oil Rig Count released yesterday at 18:00 UTC with a figure of 622, while the previous figure was 613.