3/1 IWM Weekly Report
1. Neutral - in a correction trend
2. Resistance: 230
3. Support: 214, 206 and 197/200 (Strong)
4. Gap not filled: All Yellow Zones
5. IWM has already finished a 5 waves uptrend in the orange trend tunnel, currently it is a reasonable correction to me. It is currently in the middle of the correction zone, so both resistance and support can be a consolidation zone for IWM in the next week. However, The pink line is a very strong support at 197/200, I will be very bullish to buy the dip (eg. leap call/TNA) if IWM really came into that support area. For now, let’s wait for the MA to get a healthy cross first.
2. Resistance: 230
3. Support: 214, 206 and 197/200 (Strong)
4. Gap not filled: All Yellow Zones
5. IWM has already finished a 5 waves uptrend in the orange trend tunnel, currently it is a reasonable correction to me. It is currently in the middle of the correction zone, so both resistance and support can be a consolidation zone for IWM in the next week. However, The pink line is a very strong support at 197/200, I will be very bullish to buy the dip (eg. leap call/TNA) if IWM really came into that support area. For now, let’s wait for the MA to get a healthy cross first.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.