Broadening wedge here, long term bullish, short term bearish..
I think IWM is headed to 165 fibonacci support or Sept lows.
Has a split channel with support on the white trendline, I think It tags it in the next couple of days (170-171).
If it breaks below 170 we're headed to 165..
Today IWM closed above its 20sma but got rejected by its 50sma.
Use those MA as your entries.
Below 20sma - Short to white trendline
Above 50sma and that's a breakout.. target 177,180
I think IWM is headed to 165 fibonacci support or Sept lows.
Has a split channel with support on the white trendline, I think It tags it in the next couple of days (170-171).
If it breaks below 170 we're headed to 165..
Today IWM closed above its 20sma but got rejected by its 50sma.
Use those MA as your entries.
Below 20sma - Short to white trendline
Above 50sma and that's a breakout.. target 177,180
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.