$IWM likely retest the low range of January

IWM the small-cap index ETF, which broke down its 1 year-long distribution area, is looking like the second weakest index in terms of structure (still hasn't made past the fib 0.382 level which indicates weakness)

- With 2 weekly rejection candles, the index is looking like it will inevitably test the bottom of the trading range, there's around a 4% downside from the current level.

Personal trade:

Taken shortposition from the 0.382 level

- Entry 201
- first take profit 194, second take profit 191.
- Stop-loss 205.