E-Mini Russell 2000 is Down for the 5th Day in a Row

The Hourly View for E-Mini Russell 2000

  • At the moment, RTY’s price is up 1.85 (0.09%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on E-Mini Russell 2000. Given that we see downtrend on the 20 and 10 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 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.

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 -18.39 (-0.84%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as E-Mini Russell 2000 has now gone down 5 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • 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.

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

RTY

Featured E-Mini Russell 2000 Commentary From Twitter

Reminder

I would like to see RTY ldrship, and ES/NQ doing nothing but above 4430 for remainder of week

After opex can then get spicy

If weakness persists, may have a large sell tomorrow

4430 is key levelNA

Jedi_ant