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

The Hourly View for RTY

Last Updated June 17, 2021, 10:19 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 closed yesterday down 0.23% (5.38); this denotes the 3rd consecutive day a decline has happened. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 6th for the day in terms of price change relative to yesterday. Below 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. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.