Russell 2000 (RTY) Tops All equity indices, Up 2.29%; in an Uptrend Over Past 90 Days

The Hourly View for RTY

Last Updated March 26, 2021, 01:019 GMT

At the moment, E-Mini Russell 2000’s price is down 0 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists 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 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

The end of a 3 day negative run has come for Russell 2000, which finished the day prior up 2.29% (48.86). On a relative basis, today was pretty good: Russell 2000 bested all 14 of the assets in the equity indices class 🙂 Below is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 14 days Russell 2000’s price has gone up 9 them.