Two different scales, Two different stories
As a amateur chart technician, i am having a dilemma on the current situation of Russell 2000 index.
From a weekly chart of Logarithmic scale, the long term trend line extended from 2009 has been cleanly broken which signals the end of the uptrend, the price might do one of the three things, up, down or sideway.
However, from a weekly chart of Arithmetic scale, the price of Russell 2000 index is fully compliance with the long term uptrend channel (shown in lower chart with green channel), and the 1000 will be the major psychological & technical support in time to come.
Hence, fellow PRO technician.. which reflects better reality, the log or the arith scale...
From a weekly chart of Logarithmic scale, the long term trend line extended from 2009 has been cleanly broken which signals the end of the uptrend, the price might do one of the three things, up, down or sideway.
However, from a weekly chart of Arithmetic scale, the price of Russell 2000 index is fully compliance with the long term uptrend channel (shown in lower chart with green channel), and the 1000 will be the major psychological & technical support in time to come.
Hence, fellow PRO technician.. which reflects better reality, the log or the arith scale...
Feragatname
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