After closing the previous trading day at $20.68, Invesco Senior Loan ETF went up to $20.82 only to drop back; still positive overall today, now trading at $20.77.
At the same time, United States Industrial Production came out at 0.4%, better than analyst estimates of 0.1% and improving upon the previous reading of -0.1%. Released today at 13:15 UTC, United States's Industrial Production showed an uptick at 5.33%, up from the previous number of 3.91%. United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Invesco Exchange-Traded Fund Trust II – Invesco Senior Loan ETF price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Fibonacci-focused traders would be interested to note that Invesco Senior Loan ETF is oscillating around the key Fibonacci resistance level of $20.81. Analysis based on the asset volatility indicates that Bollinger band analysis indicates that current price action is approaching the upper band at $20.83, thereby suggesting that Invesco Senior Loan ETF is becoming overvalued. Support/Resistance levels obtained from chart analysis indicate that after reaching the known resistance zone beginning at $20.81, Invesco Senior Loan ETF price action retreated approximately 5 cents.
Overall, while Invesco Senior Loan ETF has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as Lockheed Martin gained 8.76% and is now trading at $432.11. Raytheon Technologies is up 3.68%.
At the same time, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades around $25.35, with no major change.
Also worthy of note, projections for United States Crude Oil Inventories are set for a continuation of decline with 1.55 million while previous data was 9.88 million; data will be released tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Building Permits (Sep) is expected tomorrow at 12:30 UTC.
Invesco Senior Loan ETF is up 2.43% from the significant low of $20.19 it hit 18 days ago.