Russell 2000 (RUT) has been trading within an 8-month Channel Up since the April 07 market bottom and following its latest correction (Bearish Leg), it recovered this week its 1D MA50 (blue trend-line), having already started the new Bullish Leg.
The minimum rise a Bullish Leg had within this pattern has been +13.73%. As a result, we expect the current one to hit at least 2600. Notice also the 1D MACD Bullish Cross, which has always been a confirmation of a new rally.
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The minimum rise a Bullish Leg had within this pattern has been +13.73%. As a result, we expect the current one to hit at least 2600. Notice also the 1D MACD Bullish Cross, which has always been a confirmation of a new rally.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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🤵Contact info@tradingshot.com t.me/tradingshot
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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.