- Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's downtrend is set to be challenged by looming key support at $12.76
- Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's upper Bollinger Band® is at $20 which indicates a further downward move may follow.
Despite being in the red so far in the current trading session, Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares peaked above its 3 day Simple Moving Average around $13.72 — typically an early indicator of a new bullish trend beginning to emerge. A convincing break of this target could pave the way for deeper losses.
Technical analysis shows that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (currently on a downtrend) might reverse course and start going up in the short term.
It will be interesting to follow how iShares J.P. Morgan USD Emerging Markets Bond ETF's run now faces a challenge at $78.5, which is only 56 cents away. IShares J.P. Morgan USD Emerging Markets Bond ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average.
Overall, looking at the technical analysis landscape, it seems iShares J.P. Morgan USD Emerging Markets Bond ETF is likely to reverse course and start pointing down in the short term.
Around $45.84, SPDR S&P Bank ETF can look to establish a new bullish phase beyond its 21 day Simple Moving Average. In contrast, SPDR S&P Bank ETF's run now faces a challenge at $46.21, which is only 42 cents away and will be interesting to follow.
Overall, looking at the technical analysis landscape, it seems SPDR S&P Bank ETF might continue pointing upwards in the short term.