RTY partial update for the next Jan 16th week

CME_MINI:RTY1!   E-Mini Russell 2000 Index Futures
I hope everyone is having a great weekend.

RTY is in the bull channel all week, similar to NQ’s rising wedge .
As you can clearly see, RTY is way oversold on the 4h chart ( MACD , RSI ); this will get a strong rejection of the next resistance zone imo

Looking at the cycle,s we still can push into Tuesday am open to test the major trendline around 1915-18 (depending on landing time). At the same time, it can fall apart straight from the open.

I think we extend on Sunday (gap up?) or into Monday ( Futures will be trading open till noon)

- The primary support and target for the next week is 1847-52, from where (if it holds by the 20th) we should see a last push up into the Jan 24th high.
If that support is broken, it should test the 1800 level and below next.
- The target box for the final move-up is at 1542.5-1952.5RTY.


SPX and NQ will be updated on the site

Enjoy your weekend


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