Elliott Wave View: Correction in Russell Should Find Buyers
Short Term Elliott Wave view on Russell (RTY_F) suggests that the Index ended wave 2 at 1463.14. The Index then resumes higher in wave 3. The internal subdivision of wave 3 is unfolding as a 5 waves Elliott Wave structure. Up from 1463.14, wave ((i)) ended at 1530 and pullback to 1500.80 ended wave ((ii)). From there, Index rallied higher to 1614 to end wave ((iii)) and wave ((iv)) pullback ended at 1579.
As far as pivot at 1579.28 low stays intact, expect dips to find support in 3, 7, or 11 swing and Index to extend higher.
As far as pivot at 1579.28 low stays intact, expect dips to find support in 3, 7, or 11 swing and Index to extend higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.