Russell 2000 (RTY) Moves Up For the 3rd Day In A Row; Breaks Above 20 and 50 Day Averages

The Hourly View for RTY

Last Updated April 2, 2021, 23:19 GMT

At the time of this writing, 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 50 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 closed yesterday up 1.5% (33.38); this denotes the 3rd day in a row an increase has occurred. Out of the 14 instruments in the equity indices asset class, Russell 2000 ended up ranking 3rd for the day in terms of price change relative to yesterday. Below is a daily price chart of Russell 2000.

RTY

Russell 2000 Technical Analysis

Notably, Russell 2000 crossed above its 20 and 50 day moving averages yesterday. 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Or to view things another way, note that out of the past 10 days Russell 2000’s price has gone up 6 them.