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themarketzone
Mar 5, 2024 2:50 PM

The next price zone to watch  

iShares Russell 2000 ETFArca

Description

IWM broke out of a daily trading range last week, and climbed towards a weekly resistance zone.
The yellow price zone that I marked in the chart represents a weekly structure that acted as support... now should become resistance.
The 61.8 Fib level could also generate some selling pressure on IWM's price.
Comments
optionscalendarhawk
Great analysis. I have the exact same sentiment like yours. IWM will find resistance around 208.5 to 210.

My forecast: IWM will fluctuate between 208/210 and 194/189 until October. And then right after the election, it will reach 1.27% of the Fib you drew.
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