Russell 2000 (RTY) Up 1.77%; Morning Star Pattern Appearing on Chart

The Hourly View for RTY

Last Updated January 13, 2021, 02:020 GMT

At the time of this writing, E-Mini Russell 2000’s price is down 0 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 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 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 choppiness in the recent daily price action of Russell 2000 continues; to start today, it came in at a price of 2127.95874 US dollars, up 1.77% (36.95) since yesterday. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 2nd since yesterday in terms of percentage price change. Below is a daily price chart of Russell 2000.

RTY

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 additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a morning star pattern showing up on the charts as well. Rejoice!