Russell 2000 (RTY) Up 0.03%, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for RTY

Last Updated June 28, 2021, 02:019 GMT

At the moment, E-Mini Russell 2000’s price is down -0.09 (0%) from the hour prior. E-Mini Russell 2000 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 an uptrend 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

Russell 2000 is up 0.03% (0.77) since yesterday, marking the 5th straight day it has gone up. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 12th for the day in terms of price change relative to yesterday. The daily price chart of Russell 2000 below illustrates.

RTY

Russell 2000 Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Russell 2000’s price has gone up 7 of the previous 14 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!