E-Mini Russell 2000 Does it Again: Heads Down for the 3rd Straight Day

The Hourly View for E-Mini Russell 2000

  • At the time of this writing, RTY’s price is down 0 (0%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour 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 downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

E-Mini Russell 2000’s hourly price chart is shown below.

RTY

The Daily View for E-Mini Russell 2000

  • At the moment, RTY’s price is down -12.07 (-0.55%) from the day prior.
  • The daily chart shows that E-Mini Russell 2000 has seen 3 straight down days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • The moving averages on the daily 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.

Below is a daily price chart of E-Mini Russell 2000.

RTY

Featured E-Mini Russell 2000 Commentary From Twitter

$RTY, 5m

Make it or break it time for Russell.

On a bullish note, the index has potentially formed my favorite set up — a Bear Trap. It will be confirmed if:

1. RTY can hold above the 2175 level
2. RTY can move above the 2200 level

Will it? https://t.co/7fOH806NtR

yuriymatso