iShares Russell 2000 ETF
Alış

Complex Inverse Head & Shoulders on the IWM. Could move higher.

118
IWM is currently with a complex inverse head and shoulders pattern, and we are now sitting just below the neckline. It is trading above the 50/100/200 day moving averages, and it looks like a golden cross (50 MA crossing the 200 MA) may occur soon as well. Setup looks good, but it needs to break above the flat line of resistance around $158.60 to get moving. I would either like to see a strong break-out into a strong rally higher, or to see a break-out above the neckline into a pull-back to retest the neckline as new support, ideally confirming the S/R flip before further consolidating and then moving higher. I am watching $164.20, $170.00, and $173.50 as possible resistance area's based on previous price action.

Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.