Remembering the Forest picture... Sept 2014 is gone, another completed monthly candle to continue the story 8 days ago when Russell daily chart shown a broke of long term uptrend line, i am graceful enough to extend it til the end of the month (using a log scale) However, it seems that on monthly basis, Russell 2000 is making a full clean monthly break of uptrend line. The next immediate major support that was tested twice is around 1076 Failing to hold that and if RSI move below 50, we are going to really see some bloodshed
Comments
rendite
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nice analysis, thinking, with the Sep. mthly bearish engulfing candle, the RUT could go below 1075 and visit 1045.
jangseohee
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We have an evening star from Feb-Apr, Bearish Engulfing 1 from June-July, Bearish Engulfing Aug-Sept..
the major psychological and whole number support...1000!
Cheers, happy Trading