$RUT - Short Term Long, Positive Divergence
Updated
We have seen sharp sell-offs last week across the U.S. Indices, however, the Russell has been leading this sell-off as it started to break down much earlier.
What we can see now, is a possible exhaustion in the short-term and we could be due a bounce next week. One indication that is really pointing towards upside next week, is the positive divergence we have on the 2H chart. We see RSI making higher highs and the price making lower lows, this is giving me an indication that we could see a bounce next week.
Look for targets upto the 1613-1620 region.
Twitter: - @B15HU
long2bear.com
What we can see now, is a possible exhaustion in the short-term and we could be due a bounce next week. One indication that is really pointing towards upside next week, is the positive divergence we have on the 2H chart. We see RSI making higher highs and the price making lower lows, this is giving me an indication that we could see a bounce next week.
Look for targets upto the 1613-1620 region.
Twitter: - @B15HU
long2bear.com
Comment
If you got in at the time of posting, I would tighten up stops, we could be turning here to challenge 1560 - 1520 area. RUT has been the weakest out of the U.S. Indices
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