RTY1! Weekly Market Analysis for the week of 2/21/22
Last week's price action, most importantly last weeks price settlement may be an indication of what's on the horizon.
Price continues to close below key resistance which leave the market susceptible to completing a full channel extension.
A retest of 1,892.40 is not out of the question in the near term unless something spins this market around aggressively.
The next macro area os support is at 1,800 which could be reached within several weeks time if this market sells off.
While the Russell 2000 has been grinding higher over the past several weeks, it has yet to settle above resistance.
2,025 holds the potential to contain weekly buying. It would take a settlement above for the market to grind higher.
Price continues to close below key resistance which leave the market susceptible to completing a full channel extension.
A retest of 1,892.40 is not out of the question in the near term unless something spins this market around aggressively.
The next macro area os support is at 1,800 which could be reached within several weeks time if this market sells off.
While the Russell 2000 has been grinding higher over the past several weeks, it has yet to settle above resistance.
2,025 holds the potential to contain weekly buying. It would take a settlement above for the market to grind higher.
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