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IWM
iShares Russell 2000 ETF
Long
IWM
By ContraryTrader
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Updated
Mar 16, 2023
9
Cheer
Cheer
Mar 13, 2023
Head and shoulder pattern completed at December lows or 170..
Next move is to retest that neck line at 181 but the first target will be 177...
177 will be a tough nut Crack. Look to cover and renenter over 178 if there is a struggle at 177
Mar 15, 2023
Comment
Forming a pennant here.. could be bearish or bullish.. wait for the break in direction
Mar 16, 2023
Comment
Broke to the down side of that pennant I mention , bounced off 170 again and now has formed a bear flag..
Short below 170 , otherwise stay away.. calls over 174.. target 177
Mar 16, 2023
Comment
Rejected off 177 again today...
Support areas are 173 then 170..
I highlighted in yellow the accumulation that took place before in December...
You'll know If this market will take the next leg up if IWM breaks over 177..
Trend Analysis
ContraryTrader
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