Russell 2000 (RTY) Up 1.5%, Crosses 20 and 50 Day Moving Averages; in an Uptrend Over Past 90 Days

The Hourly View for RTY

Last Updated April 5, 2021, 03:019 GMT

Currently, 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. As for the trend on the hourly timeframe, we see the clearest trend 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 came into today up 1.5% (33.38) from the open of the previous day, marking the 3rd consecutive day an upward move has occurred. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 4th for the day in terms of price change relative to the previous day. Here is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Russell 2000 crossed above its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Or to view things another way, note that out of the past 14 days Russell 2000’s price has gone up 8 them.