- Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's recent run now faces a challenge at $12.33
- Upper Bollinger Band® currently at $12.67
As VanEck Vectors ETF Trust – VanEck Vectors Social Sentiment ETF's MACD index generated a crossover buy signal, the medium-term indication has turned positive. This occurs as the MACD line crosses above the MACD signal line. In contrast, it will be interesting to follow how VanEck Vectors ETF Trust – VanEck Vectors Social Sentiment ETF's run now faces a challenge at $14.09, which is only 13 cents away.
Overall, looking at the technical analysis landscape, it seems VanEck Vectors ETF Trust – VanEck Vectors Social Sentiment ETF might continue pointing upwards in the short term.
Visual analysis of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's chart shows that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares's recent run now faces a major challenge as concentrated supply is likely found at $12.33 with price action currently 2 cents away. Trend analysis indicates that around $11.69, Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares can look to establish a new bullish phase beyond its 21 day Simple Moving Average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $12.67, thereby suggesting that Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares is becoming overvalued.
Overall, while Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Despite being in the red so far in the current trading session, Direxion Daily Energy Bull 2X Shares peaked above its 21 day Simple Moving Average around $72.97 — typically an early indicator of a new bullish trend beginning to emerge. Direxion Daily Energy Bull 2X Shares's lower Bollinger Band® is at $68.54, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Direxion Daily Energy Bull 2X Shares could begin to recover as it approaches significant support, now $1.38 away from $70.11. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Direxion Daily Energy Bull 2X Shares might start pointing upward in the short term.
Fundamental indicators – United States ISM Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 49, while the previous figure was 50.2.
Upcoming fundamentals: United States Non Farm Payrolls projected to come out at 200,000 — worse than previous data of 261,000; data will be released today at 13:30 UTC.