The Hourly View for E-Mini Russell 2000
- At the moment, RTY’s price is down 0 (0%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as E-Mini Russell 2000 has now gone down 5 of the past 5 hours.
- Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
- The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
E-Mini Russell 2000’s hourly price chart is shown below.
The Daily View for E-Mini Russell 2000
- Currently, RTY’s price is up 4.55 (0.2%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on E-Mini Russell 2000. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Of note is that the 20 day changed directions on RTY; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
- Divergence between RTY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in RTY’s price.
Below is a daily price chart of E-Mini Russell 2000.