Peace be upon you, merchants. An opportunity to buy. With a breach of support in 1915. As well as penetrating the descending channel. Which humiliates the power of buyers in the market. The price is moving up. In the coming days we can see. Price 2120. And the price of 2200
I have only one extension - 2032.2
We have a high probability target at 1900 by the mid of the month. Which should hold for another push into Mar high, possibly just a lower high.
I don't want to be long after the Mar high! It's a warning signal!
Have a good weekend
I hope everyone is having a great weekend.
RTY is in the bull channel all week, similar to NQ’s rising wedge.
As you can clearly see, RTY is way oversold on the 4h chart (MACD, RSI); this will get a strong rejection of the next resistance zone imo
Looking at the cycle,s we still can push into Tuesday am open to test the major trendline around 1915-18 (depending...
Im not currently trading RTY, but it has the weakest structure out of 4 bog indexes.
With the today's rally, RTY rallied the lest compare to the ES and NQ, where ES was leading on the upside, while NQ gave up less when it started to sell
For those who trade RTY, there is a great short setup is setting up
The price is above Monday's high, which suggests one more push going into the CPI numbers
I have mentioned also in my SPX , NQ and ES updates about the possible inverted OCT 13th CPi release move tomorrow.
A Gap and Crap full report was posted last night and updated today
Should not get above 1905 on any test for much lower numbers to be seen next year.
If it holds, might get below 1500 early next year.
Will short 1900-02 zone with a 10-15 points stop.
ideally we see a good move down to at minimum revisit pre CPI day close
We are at the first maj resistance - 110MA Weekly magnet.
RTY hit 200MA on daily, while others are lagging behind.
- 2032-85 is where I think this move will be capped, if we actually extend above 110MA.
It can still extend up to 2084-2108
I expect tomorrow red close
I haven't look at RTY for a while now, till the Fri close where I shorted it at 2015.50, willing to add if we stretch into the maj resistance zone right where the upper Bollinger is, that is also a 2.618 extension off the lows
RTY is overextending on the upside and downside compare to SPX .
We hit 50% retracement off 2020 lows in June and I see the whole way as...
0.5 is acting as a support now as price has moved way above it, prior to this it was a resistance point as price tested it
This bullish assumption is supported by the RSI, showing an Inverted H&S pattern, just completing the Right Shoulder
This 0.5 fib line should act as a support now
