Head and shoulder pattern completed at December lows or 170..
Next move is to retest that neck line at 181 but the first target will be 177...
177 will be a tough nut Crack. Look to cover and renenter over 178 if there is a struggle at 177
Next move is to retest that neck line at 181 but the first target will be 177...
177 will be a tough nut Crack. Look to cover and renenter over 178 if there is a struggle at 177
Note
Forming a pennant here.. could be bearish or bullish.. wait for the break in direction
Note
Broke to the down side of that pennant I mention , bounced off 170 again and now has formed a bear flag..
Short below 170 , otherwise stay away.. calls over 174.. target 177
Note
Rejected off 177 again today...Support areas are 173 then 170..
I highlighted in yellow the accumulation that took place before in December...
You'll know If this market will take the next leg up if IWM breaks over 177..
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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.