The Hourly View for RTY
Last Updated February 18, 2021, 00:020 GMT
Currently, E-Mini Russell 2000’s price is down -0.02 (0%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as E-Mini Russell 2000 has now gone up 4 of the past 5 hours. 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 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
The choppiness in the recent daily price action of Russell 2000 continues; to start today, it came in at a price of 2272.89038 US dollars, down 0.72% (16.47) since the previous day. Those trading within the equity indices asset class should know that Russell 2000 was the worst performer in the class today. The daily price chart of Russell 2000 below illustrates.
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 9 of the previous 14 trading days.