Will Russell 2000 bullish to challenge highest 235 in Sept RSI over 50 since April 2024 till now Almost a year trending at the up trendlines since Nov 2023 and moving along the up trend channel since Nov 2023 Resistance 230, 235 Support 210, 220, 180 by SASSA3912
IMW (Russell 2000) AB=1.618CD patternDisclaimer - I don't own IWM ETF shares. This is not a trading or investment recommendation. This is in continuation to my previous post on IWM Analysis, this chart shows the AB=1.618CD pattern of IWM. All the best! by Venkat_0142
Analysis of IWM(Russell 2000)Disclaimer - I don't share of IWM ETF. This analysis is not a trading or investment recommendation & is only for educational purpose. 1.IWM has been in a lower high lower low structure after the false break out. 2.The long consolidation support area was broken indicating that the activity during consolidation was distribution. 3.IWM has paused its downtrend & has formed a 1-2-3 structure & also evidenced through positive RSI divergence. 4.However, the current up move from a low of 188.09 is not backed by an increase in volume but a negative volume divergence has been seen which is not desired during a trend reversal. 5. Immediate major points of resistance are: a) around 204 which is point#2 of the 1-2-3 structure. b) followed by the $208 level which is the bottom of the consolidation area that has turned from support into resistance. c) 200DMA around $222 d) Last major lower high around $227 e) Consolidation high around $233 f) False break out high around $245. Those following harmonics would also notice that IWM has formed a 1.618AB = CD pattern Finally, a breakout above $245 starts a brand-new up trend from the Russell. If IWM crosses the $222-$230 area & sustains itself above the 200DMA, we could see a change in the overall trend from negative to positive however it will still face strong headwinds from the resistances above $230. All the best! by Venkat_0140
Magic of Price ActionWhen Price consolidate near 1.618 fibo level and breakout the upper boundary then high chance the price may hit target .Longby PrasantaP1
IWM be careful here we are right at resistance a pull back at thIWM be careful here we are right at resistance a pull back at the open is very likely but if we push right thrugh it it will be extremely bullish imoby ahjiouyh0