Russell 2000 technical analysis, bears may wake up here

Weekly timeframe technical analysis video for RTY, Russell 2000 futures 📉🌐

  • Delving into the range dynamics, spotlighting transitions from support to resistance around the 2115 level. 🚀➡️🚧
  • Critical Support Turned Resistance: Witnessed a shift at 2115, evolving from solid support to formidable resistance, with recent price rejection indicating its strength. 🛑
  • Key price levels for the Russell, longer term

    • Bottom Range Price: 1638, significant for its historical bounces in June and Fall ’22, and October ’23. 📆⬆️
    • Consolidation Triangle Formation: Traces from post-COVID lows to all-time highs, indicating potential fake-outs. 📐
    • Volume Profile Insights: Value Area High at 1972 and POC around 1800, highlighting crucial areas within the current range. 📊
  • Developing:
    • Observing a potential downward cross at approximately 2080, with a focus on the developing POC near 2007 as a key technical junction. 🔍🔻
    • Anticipated tests of upper resistance levels, with the fourth attempt possibly breaking through, based on historical patterns. 🔄🚀
  • Long-term Strategy: Emphasizing the importance of junctions for setting up trades, with an eye on key levels for potential reversals or breakthroughs. 🕰️📈
  • Trade Setup Example: A speculative 5 to 1 trade opportunity, illustrating the strategic positioning and expectations for the upcoming months. SEE VIDEO ABOVE WITH THE TRADE EXAMPLE. TRADE AT YOUR OWN RISK and visit for additional views 📉💹

This article was written by Itai Levitan at Source