The Hourly View for RTY
Last Updated April 6, 2021, 03:019 GMT
Currently, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 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 closed yesterday up 0.49% (10.98); this denotes the 4th consecutive day an increase has occurred. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 11th for the day in terms of price change relative to yesterday. 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 90 day horizon; over that time period, price has been moving up. 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. For additional context, note that price has gone up 18 out of the past 30 days.