Russell 2000 (RTY) 2 Day Down Streak Ended, Crosses 50 Day Moving Average; Price Base in Formation Over Past 30 Days

The Hourly View for RTY

Last Updated April 9, 2021, 03:019 GMT

At the moment, E-Mini Russell 2000’s price is down 0.01 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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

The back and forth price flow continues for Russell 2000, which started today off at 2242.5957 US dollars, up 0.88% (19.54) from the previous day. 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. Let’s take a look at the daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Notably, Russell 2000 crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 30 days Russell 2000’s price has gone up 18 them.