The Russell 2000 is cornered🟢 The Russell 2000 is cornered
The American index Russell 2000 is at a crucial point for its future development.
The price is near the marked double top and is also using the 2024 upward trendline as support.
If the 2024 upward trendline is lost, the price could see drops of at least 7% in a few days.
If it breaks the double top , it means we have nothing to worry about, and the price will continue with the current upward trend, without the need for a sideways market that offers a pause for investors.
✅ What pattern is unfolding in TVC:RUT ?
It is showing a double top, which, if it breaks the $1600 area, would put the index in serious trouble. For now, we should focus on the blue trendline, as breaking and losing the $2,170 area would lead to corrections down to the next support, implying rapid drops of an additional 7%.
We should wait and buy at the trendline, and sell if it's broken. Always follow the money management strategy explained in all other ideas to create risk-free trades.
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