Index Russell 2000 Technical Analysis – 03 November 2022

Index Russell 2000 Technical Analysis – 03 November 2022

Russell 2000 Index Technical Analysis

Russell 2000 Index Technical Analysis: Weekly Chart

In the weekly 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 1640.00 the resistance level is at 1770.00

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

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 1670.00 the resistance level is at 1750.00

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 1706.90, TAKE PROFIT AT 1640.00 AND STOP LOSS AT 1770.00

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