This is the small cap Index in US. The small cap Indices are always a bit ahead of the broader mkts. Hence imp to watch them. Fib Analysis- The pull back to 38.2% is telling me the trend is very strong. That the bulls have been able to regain the top of the range in two candles is strength. To me the Index is at its most imp resistance. RSI- the oscillator...
Russell 2000 now trading at support zone 1640/1700 if not close below then again seen up side
Be watchful. Index is severally fall. Hourly time frame is showing mild recovery. Don't make any long position unless and until Index closed above 1794 aka 1800 level on daily closing basis. For newbies , don't enter in the market. As, Market may not fall immediately from this level ( psychological level of 1700) and market may not sustain at higher level too....
Russell 2000 at 72 weeks low - US broader market is very weak.
#RABT - Right Angled Broadening Triangle