RUSSELL Will it correct this time also?

Russell 2000 (RUT) has been trading within a Channel Up since late April and right now its current Bullish Leg is about to test the pattern's top (Higher Highs trend-line).

It has completed a +9.01% rise from the August 20 Low, which is the same increase of the previous (August 01 - 13) Bullish Leg and that has been the 'weakest' one out of all Legs of the Channel Up (+11.07%, +10.93% and +10.33% the others).

As a result, we can start thinking about taking profits on this run and an upcoming new pull-back (red Bearish Leg/ Channel Down) within a Sell Zone that extends up to +11.07% (2500).

Within this Zone, any rejection we get, we are targeting 2380, which is the 0.382 Fibonacci retracement level applied on the minimum +9.01% rally.

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