A break below 156-ish is bearish in my opinion, and increases the likelihood that IWM will retest the bottom of its descending channel. In addition to that, the RSI is showing overbought conditions. If it breaks below the 156-ish level, I will short it via puts and look for a risk/reward somewhere in that area I noted.
Fundamentally, it all hinges on the Fed...
Hi,
In 2017-05-09, 2017-07-07 and 2017-12-11, the RSI gave us very clear BUY signal.
We can see this signal again at 2018-06-20.
Maybe a tip from my side.
Take a look at my chart and leave a comment :-)
I can learn from you!
You can contact me on instagram @ties.boer
Kind regards
Ties Boer
When looking at a higher timeframe it looks like we have a nice elliot formation going, Strong trendline and soon to be on top of the 6h cloud.
If we fall down to 600 i might sell, not sure.
From what i can see, i really like were it's going but i will keep tight stop/loss.
RSI crossing indicating we are still going up.
