Russell2000, more downside is coming.Â
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Russell2000 is breaking below the 2000 consolidation resistance. This breakout lower is now confirmed with a break below the significant 1922 level for a downside continuation. Since Russell2000 is back in the channel, it is eyeing a 1650 target lower, the Median line.
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The weekly chart shows an extension below 1922 in the new downside channel formed. Target on the downside is 1650, which can be invalidated only upon a break above 1922. The strong downside support short-term is 1870.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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