- Communication Services Select Sector SPDR Fund bearish trend is facing a possible turning point at $53.32
- Communication Services Select Sector SPDR Fund's upper Bollinger Band® at $55.12, suggesting a further decline is forthcoming.
Communication Services Select Sector SPDR Fund is eyeing the $53.32 support line. Despite being in the red so far in the current trading session, Communication Services Select Sector SPDR Fund peaked above its 200 day Simple Moving Average around $54.22 — typically an early indicator of a new bullish trend beginning to emerge.
Despite suffering losses in today's session, technical analysis is indicating that Communication Services Select Sector SPDR Fund will undergo a significant bounce in the immediate term.
IShares MSCI Eurozone ETF made an initial foray below its 5 day Simple Moving Average around $43.71. On the other hand, note that iShares MSCI Eurozone ETF is eyeing the $43.5 support line.
Despite the market lacking direction, technical chart analysis strongly suggests iShares MSCI Eurozone ETF is positioned for a downward move in the near term.
Around $88.93, iShares U.S. Real Estate ETF can look to establish a new bullish phase beyond its 10 day Simple Moving Average. Despite this, iShares U.S. Real Estate ETF's run now faces a challenge at $90.83, which is only 76 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems iShares U.S. Real Estate ETF might continue pointing upwards in the short term.
Fundamental indicators – United States API Weekly Crude Oil Stock came out at 3.38 million, while a consensus of analysts was expecting 1.6 million.
Upcoming fundamentals: projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was 0.1%; data will be released tomorrow at 13:30 UTC.