Russell 2000 (RTY) Heads Down For the 3rd Consecutive Day; Pin Bar Pattern Appearing on Chart

The Hourly View for RTY

Last Updated June 17, 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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.

Russell 2000 Daily Price Recap

Russell 2000 came into today down 0.23% (5.38) from the open of the day prior, marking the 3rd consecutive day a decline has happened. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 6th since the day prior in terms of percentage price change. Here is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Volatility for Russell 2000 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Russell 2000’s price has gone up 15 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.