Russell 2000 (RTY) Up 0.02%, Nears 200 Day Moving Average; Pin Bar Pattern Appearing on Chart

The Hourly View for RTY

Last Updated September 25, 2020, 00:06 GMT

At the time of this writing, RTY’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. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on RTY. Given that we see downtrend 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 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

1451.8189 was the closing price of the day for Russell 2000, resulting in today being one in which price moved up 0.02% ($0.36) from yesterday. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 4th since yesterday in terms of percentage price change. Below is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Russell 2000’s price has gone up 5 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to $RTY:

  • From jomama_trades:

    $RTY White Level = 1459.5 & so far current LOD.As noted to members, major Level so if Bears are unable to follow through then should Reverse Up.$ES $ES_F $SPX $SPY $NQ $NQ_F $NDX $QQQ $RTY $RTY_F $RUT $IWM $YM $YM_F $DIA

  • From tdarling1:

    Hump day domestic equity “performance” $SPX 3237 -2.4%, $COMPQ 10633 -3.1%, and $RUT 1458 -2.6% Futures lower
    $ES_F 3222 -0.3%
    $NQ 10764 -0.6%
    $RTY 1449 +0.2%

  • From mr_c23h:

    $rty really needs to make a push above 1450 today, and quickly. In a vulnerable location.