The Russell 200 Index is clearly in an established uptrend as you can see on this weekly chart. The CPI number out this morning looks like it will push it back to the lower trendline. If recent history is still intact (it is for now), there may be an opportunity for a long trade on a reversal. All TBD.
My plan is to wait for a reversal back to the upside then look for a low-risk reward entry. There is an area of resistance around that horizontal line as well.
Let me know your thoughts in the comments.
My plan is to wait for a reversal back to the upside then look for a low-risk reward entry. There is an area of resistance around that horizontal line as well.
Let me know your thoughts in the comments.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.