Russell 2000 (RTY) Down 0.31%, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

The Hourly View for RTY

Last Updated April 23, 2021, 03:019 GMT

Currently, E-Mini Russell 2000’s price is down 0 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend 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

2232.61426 was the closing price of the day for Russell 2000, resulting in today being one in which price moved down 0.31% ($7.01) from the previous day. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 10th since the previous day in terms of percentage price change. Let’s take a look at the 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!