- IShares MSCI USA Min Vol Factor ETF target's is $73.43; currently at $73.62
- Bollinger analysis indicates upper Band® is at $74.68
IShares MSCI USA Min Vol Factor ETF made an initial foray below its 3 day Simple Moving Average around $73.54. On the other hand, note that iShares MSCI USA Min Vol Factor ETF's run now faces a challenge at $73.43, which is only 19 cents away and will be interesting to follow.
Despite the market lacking direction, technical chart analysis strongly suggests iShares MSCI USA Min Vol Factor ETF is positioned for a downward move in the near term.
$75.31 marks the crossover point where Consumer Staples Select Sector SPDR Fund price action falls below its 5 day Simple Moving Average. Despite this, Consumer Staples Select Sector SPDR Fund could begin to recover as it approaches significant support, now 26 cents away from $74.98. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting Consumer Staples Select Sector SPDR Fund to extend its recent losses.
IShares Russell Midcap ETF is hovering around the $69.87 Fibonacci support level. IShares Russell Midcap ETF has formed a "Bearish Engulfing” pattern. IShares Russell Midcap ETF's upper Bollinger Band® is at $70.54 which indicates a further downward move may follow. In contrast, iShares Russell Midcap ETF is eyeing the $69 support line.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting iShares Russell Midcap ETF to extend its recent losses.
Fundamental indicators – United States Crude Oil Inventories beat the -583,000 projections, with 597,000.
Upcoming fundamentals: United States Producer Price Index is projected to outperform its last figure with 0.1%, having previously been at -0.1%. The figure will be published tomorrow at 12:30 UTC.