Russell 2000 Index Technical Analysis: Weekly Chart

In the weekly charts, Russell 2000 is trading in a down channel. Russell 2000 is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1640.00 the resistance level is at 1770.00

Russell 2000 will trade in a down channel until there is a trend reversal.

Russell 2000 Index Technical Analysis: Daily Chart

In the daily charts, Russell 2000 was trading in a down channel. Russell 2000 is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1650.00 the resistance level is at 1770.00

Russell 2000 was traded in a down channel before there is a breakout upside.  

How to Trade Russell 2000 Index this Week:

Russell 2000 will follow the downtrend until its trend reversal. So, remain bearish on Russell 2000.

TRADE SUGGESTION- SELL AT 1702.20, TAKE PROFIT AT 1640.00 AND STOP LOSS AT 1770.00