The Hourly View for RTY
Last Updated January 14, 2021, 03:020 GMT
At the time of this writing, E-Mini Russell 2000’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 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 10 and 5 hourly candle timeframe, so the meaning of the candles may require further exploration. 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.
Russell 2000 Daily Price Recap
The back and forth price flow continues for Russell 2000, which started today off at 2111.966 US dollars, down 0.62% (13.08) from the day prior. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 13th for the day in terms of price change relative to the day prior. The daily price chart of Russell 2000 below illustrates.
Russell 2000 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Russell 2000’s price has gone up 5 of the previous 10 trading days.