The Hourly View for RTY
Last Updated September 28, 2020, 00:06 GMT
At the moment, RTY’s price is down $0 (0%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as RTY has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on RTY. 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Russell 2000 Daily Price Recap
Russell 2000 closed the day prior up 1.59% (23.09); this denotes the 2nd straight day an increase has occurred. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 4th since the day prior in terms of percentage price change. Below is a daily price chart of Russell 2000.
Russell 2000 Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Russell 2000 crossed above its 100 and 200 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 30 days Russell 2000’s price has gone up 15 them.