Russell 2000 approaching possible strong selling pressure?
Hi guys,
Russell 2000 has consolidated on the previous range resistance that has now acted as support and is now heading for a crack at its all time high.
Currently Russell is just below a daily order block highlighted by the red box which was tested once on the way down in bear market. The zone also is the golden fib zone between 0.5 and 0.618, so very likely to have some sell opportunities.
It looks likely that this index is going to be very volatile and face huge amounts of resistance on the way up if it is to make an all time high. Patience will be key to make quality trades with this index but opportunities will be there.
The red zone may present more than one sell opportunity with buy back at previous support or resistance , which allows for plenty of swing trade opportunities.
Safe Trading all
Russell 2000 has consolidated on the previous range resistance that has now acted as support and is now heading for a crack at its all time high.
Currently Russell is just below a daily order block highlighted by the red box which was tested once on the way down in bear market. The zone also is the golden fib zone between 0.5 and 0.618, so very likely to have some sell opportunities.
It looks likely that this index is going to be very volatile and face huge amounts of resistance on the way up if it is to make an all time high. Patience will be key to make quality trades with this index but opportunities will be there.
The red zone may present more than one sell opportunity with buy back at previous support or resistance , which allows for plenty of swing trade opportunities.
Safe Trading all