The Hourly View for E-Mini Russell 2000
- At the moment, RTY’s price is down 0 (0%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as E-Mini Russell 2000 has now gone down 4 of the past 5 hours.
- Regarding the trend, note that the strongest trend exists on the 100 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 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 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.
E-Mini Russell 2000’s hourly price chart is shown below.
The Daily View for E-Mini Russell 2000
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- E-Mini Russell 2000 has seen its price go down 14 out of the past 14 days, thus creating some compelling opportunities for bears.
- From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
- Of note is that the 200 day changed directions on RTY; it is now pointing down. The moving averages on the daily 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.
- Divergence alert: Trend in RTY’s price and its RSI are diverging. RTY’s price is declining faster than its RSI.
Below is a daily price chart of E-Mini Russell 2000.