The Hourly View for RTY
Last Updated January 8, 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 move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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
Russell 2000 came into today up 1.34% (27.81) from the open of the day prior, marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 5th since the day prior in terms of percentage price change. The daily price chart of Russell 2000 below illustrates.
Russell 2000 Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Russell 2000’s price has gone up 8 of the previous 14 trading days.