- Existing downtrend raises chances of a convincing break of current support target at $94.31
- IShares MSCI EAFE Value ETF's upper Bollinger Band® is at $50.76 which indicates a further downward move may follow.
IShares MBS ETF made an initial foray below its 200 day Simple Moving Average around $94.61. Despite this, a convincing break of this target could pave the way for deeper losses.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting iShares MBS ETF to extend its recent losses.
ProShares UltraShort 20+ Year Treasury's run now faces a challenge at $28.76, which is only 19 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Technical analysis trend indicators suggest that iShares MSCI EAFE Value ETF's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Yesterday's price action generated a Japanese candlestick pattern showing iShares MSCI EAFE Value ETF has formed a "Bearish Engulfing” pattern. According to asset volatility analysis, iShares MSCI EAFE Value ETF's upper Bollinger Band® is at $50.76 which indicates a further downward move may follow. Technical analysis of iShares MSCI EAFE Value ETF's past price action reveals multiple support and resistance levels: iShares MSCI EAFE Value ETF is eyeing the $49.74 support line.
For the time being, iShares MSCI EAFE Value ETF remains flat without a clear direction.
Fundamental indicators – data from United States concerning Core Retail Sales was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0% to -0.8% this month.