- Ongoing downtrend set to be challenged at $129.72 as top of an established support zone
- Bollinger analysis indicates upper Band® is at $134.55
As the trading day commences, technical analysis suggests a convincing break of this target could pave the way for deeper losses. With regards to technical trend indicators, chart analysis show that Health Care Select Sector SPDR Fund's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Asset volatility analysis shows that Health Care Select Sector SPDR Fund's lower Bollinger Band® is now at $130.2.
For the time being, Health Care Select Sector SPDR Fund remains flat without a clear direction.
Concerning technical analysis and more specifically, trend indicators, Energy Select Sector SPDR Fund's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Analysis based on the asset volatility indicates that the lower Bollinger Band® of Energy Select Sector SPDR Fund is at $83.08. As the day gets underway, chart analysis suggests a persuasive break of this target could lead to higher losses.
For the time being, Energy Select Sector SPDR Fund remains flat without a clear direction.
As the day gets underway, chart analysis suggests a persuasive break of this target could lead to higher losses. Trend and momentum analysis indicates that iShares MSCI Eurozone ETF's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $43.62, a low enough level to, generally, suggest that iShares MSCI Eurozone ETF is trading below its fair value.
For the time being, iShares MSCI Eurozone ETF remains flat without a clear direction.
Fundamental indicators – United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million.
Upcoming fundamentals: tomorrow at 16:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.17 million from the preceding figure of 16.28 million.