Today at a glance: an influx of buyers helped ProLogis to end the session higher around $108.33, while establishing a $103.95 to $108.62 session range today.
United States's Consumer Confidence new data released of 102.5 below its previous figure.
On the flip side, following a previous reading of 107.8, Consumer Confidence in United States released today at 14:00 UTC fell short of the 106.5 figure expected by analysts with an actual reading of 102.5.
At the same time, United States API Weekly Crude Oil Stock came out at 4.52 million, while a consensus of analysts was expecting 200,000. United States 2-Year Note Auction released today at 17:00 UTC with a figure of 4.46, while the previous figure was 4.29.
Investors are seeking long positions as ProLogis price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. ProLogis has crossed the upper Bollinger Band® at $107.65, a potential sign that further gains are to follow. ProLogis broke through the $105.49 resistance and climbed above it $2.84; next resistance level is at $107.66.
Overall, looking at the technical analysis landscape, it seems ProLogis might continue pointing upwards in the short term.
Today's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with 200,000, having previously been at -1.73 million. The figure will be published tomorrow at 14:30 UTC.
Elsewhere, United States New Home Sales (Sep) will be released tomorrow at 14:00 UTC.
ProLogis reached a significant high of $173 around 5 months ago but has lost 40.25% since then.