The Hourly View for RTY
Last Updated February 19, 2021, 00:020 GMT
Currently, E-Mini Russell 2000’s price is down 0.02 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on E-Mini Russell 2000. Given that we see downtrend on the 20 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.
Russell 2000 Daily Price Recap
Russell 2000 came into today down 0.74% (16.78) from the open of the previous day, marking the 2nd day in a row a decline has happened. 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 previous day. Below is a daily price chart of Russell 2000.
Russell 2000 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Russell 2000’s price has gone up 17 of the previous 30 trading days.