Technical Analysis

Russell 2000 technical analysis In 30 seconds

The area close to 1800 seems to be a ‘magnet’ pulling the price to it. If and when it gets to the double support shown within the video, watch for shorts to cover and early bulls to take some Long bets. That spot introduces an attractive reward vs risk ratio for the bulls. However, if the price continues to fall, then we might have a confirmed bear flag broken to the downside.

Will Russell be getting worse as shown below by Bloomberg, or will it stop close to 1800?

I will be looking for a Long if Russell 2000 futures gets close to 1800. Why? At that price, my stop would fairly close but my profit target would being further out, and, thus, interesting. Watch the double support on the technical chart as shown in the video. Also watch for possible comments below. In any case, this is all just my opinion, and not a trade recommendation.

As per the Nasdaq futures (NQ) on the hourly timeframe, price might be breaking down this potential bear flag. If so, that might be adding or synchronizing the pressure on the Russell 2000, as well.

Nasdaq futures 1 hour timeframe. Bears are back.

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