E-Mini Russell 2000 Just Breached This Major Moving Average Level

News Releases Impacting E-Mini Russell 2000

  • Forecasted Existing Home Sales in United States: 6.1.. The actual number: 6.02.. (1.33% difference between the two.)

The Hourly View for E-Mini Russell 2000

  • Currently, RTY’s price is down -0.78 (-0.04%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • 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 an uptrend 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.


The Daily View for E-Mini Russell 2000

  • At the moment, RTY’s price is up 34.3 (1.69%) from the day prior.
  • The daily chart shows that E-Mini Russell 2000 has seen 3 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being above it. The moving averages on the daily 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.

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


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