Russell 2000 futures may resume the bearish trend established earlier this year, trading below wedge support following the completion of an evening star reversal pattern on Wednesday.
Shorts could be established on the break with a stop above the former uptrend for protection. Support may be encountered around 2050, although 1994.8 looms as a more appropriate target for those seeking greater risk-reward.
RSI (14) has rolled over, while MACD remains negative despite grinding higher over the past fortnight, painting a picture of waning momentum that complements the bearish price signals.
If RTY were to reclaim the former uptrend, the bearish setup would be invalidated.
Good luck!
DS
Shorts could be established on the break with a stop above the former uptrend for protection. Support may be encountered around 2050, although 1994.8 looms as a more appropriate target for those seeking greater risk-reward.
RSI (14) has rolled over, while MACD remains negative despite grinding higher over the past fortnight, painting a picture of waning momentum that complements the bearish price signals.
If RTY were to reclaim the former uptrend, the bearish setup would be invalidated.
Good luck!
DS
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.