- ProShares Short Dow30 bearish trend is facing a possible turning point at $32.38
- Upper Bollinger Band® currently at $36.47
$32.64 marks the crossover point where ProShares Short Dow30 price action falls below its 21 day Simple Moving Average. In contrast, ProShares Short Dow30 is eyeing the $32.38 support line.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting ProShares Short Dow30 to extend its recent losses.
Around $34.7, Financial Select Sector SPDR Fund can look to establish a new bullish phase beyond its 5 day Simple Moving Average. The lower Bollinger Band® of Financial Select Sector SPDR Fund is at $34.3. On the other hand, note that it will be interesting to follow how Financial Select Sector SPDR Fund's run now faces a challenge at $35.22, which is only 23 cents away.
Overall, looking at the technical analysis landscape, it seems Financial Select Sector SPDR Fund might continue pointing upwards in the short term.
SPDR Bloomberg Barclays Short Term High Yield Bond ETF's recent run now faces a major challenge as concentrated supply is likely found at $24.67 with price action currently 4 cents away. Despite posting gains on yesterday, SPDR Bloomberg Barclays Short Term High Yield Bond ETF slid below its 10 day Simple Moving Average at $24.61 during the last session — an early indicator that a negative trend could be emerging.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest SPDR Bloomberg Barclays Short Term High Yield Bond ETF is set for a reversal in the coming days.
Fundamental indicators – United States Consumer Price Index released today at 13:30 UTC with a figure of 0.1%, while the previous figure was 0.4%.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -3.91 million. It previously stood at -5.19 million; data will be released tomorrow at 15:30 UTC.