{"id":144168,"date":"2019-03-22T09:30:38","date_gmt":"2019-03-22T13:30:38","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144168"},"modified":"2019-03-22T09:01:14","modified_gmt":"2019-03-22T13:01:14","slug":"russell-2000-leads-the-way-for-technical-analysts","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/russell-2000-leads-the-way-for-technical-analysts\/","title":{"rendered":"Russell 2000 Leads The Way For Technical Analysts"},"content":{"rendered":"
March 22, 2019<\/div>
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By TheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n

The Russell 2000 ETF continues to deliver critical technical and longer-term price patterns for skilled technicians.\u00a0 Combining the IWM chart with the Transportation Index, Oil, Gold, and others provide a very clear picture of what to expect in the immediate future.<\/p>\n

Recently, we posted a research article about the Head-n-Shoulders pattern setting up in the $INDU.\u00a0 Again, the IWM chart is also showing a very clear Head-n-Shoulders pattern with critical resistance near $159.50 and support near $144.25.\u00a0 Our researchers, at Technical Traders Ltd., believe this right Shoulder will prompt a downside market move towards support near $144.25 before a downward sloping wedge pattern sets up.\u00a0 This first downward price leg will setup and congesting wedge formation that will, eventually, break to the upside and drive market prices higher.<\/p>\n

We authored a research article about this pattern setup on February 17, 2019.\u00a0 You can read it here.<\/a><\/strong><\/p>\n

Skilled traders watch all the charts to assist them in identifying characteristics that can assist them in understanding price moves, key support\/resistance levels, and price patterns.\u00a0 This IWM chart should be on everyone\u2019s radar at the moment.\u00a0 Where the IWM finds support, so will the other US stock market indexes.<\/p>\n

WEEKLY IWM RUSSELL 2000 INDEX PATTERN<\/h2>\n

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The IWM setup indicates we may only see a 5~7% downside price swing before support is found.\u00a0 We\u2019ll have to watch how this plays out over the next few weeks\/months to determine if the $144.25 level is true support or if the lower $137.00 level will become support.\u00a0 Either way, the downside price swing appears poised to unfold over the next few days\/weeks \u2013 so be prepared.<\/p>

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Free Reports:<\/p><\/div>\r\n

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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Please take a minute to visit\u00a0TheTechnicalTraders.com<\/u><\/a><\/strong> to learn how we can help you find and execute better trades in 2019.\u00a0 We have already positioned our clients for this move and we believe we can help you stay ahead of these markets.\u00a0 Visit www.TheTechnicalTraders.com\/FreeResearch\/ to read all of our most recent research.<\/p>\n

Chris Vermeulen<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By TheTechnicalTraders.com The Russell 2000 ETF continues to deliver critical technical and longer-term price patterns for skilled technicians.\u00a0 Combining the IWM chart with the Transportation Index, Oil, Gold, and others provide a very clear picture of what to expect in the immediate future. Recently, we posted a research article about the Head-n-Shoulders pattern setting up […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-144168","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=144168"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144168\/revisions"}],"predecessor-version":[{"id":144169,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144168\/revisions\/144169"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=144168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=144168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=144168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}