IWM: Incredible Wedge Structure
A quick analysis on IWM shows a huge wedge that's been forming since March. This isn't an unknown pattern, but I've mapped out some importanttrendlines that have been having an impact on overall price action.
We actually gapped back up into the wedge Nov. 10 but now we're at risk of breaking down again.If we do, there are some areas of volume support so I don't expect us too far down too quickly. However I think the bulls are going to have a harder time winning against the current technicals.
IWM
We actually gapped back up into the wedge Nov. 10 but now we're at risk of breaking down again.If we do, there are some areas of volume support so I don't expect us too far down too quickly. However I think the bulls are going to have a harder time winning against the current technicals.
IWM
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