RUT Monthly UpdateMonthly Data Summary Suggests:
Current Monthly Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest Short positions.
Current chart score suggests that Bearish Sentiment is present.
The anticipated upcoming trade range is between 1052.45 - 1226.89
No Conolidation Exists at this time
If RUT is capable of maintaining the current strength as of today, the projection generated from the monthly chart is a target price of 700 - 798
The prices have moved 2.52 times the normal trade range from Trend Moving Average, a stall/change in direction may occur to return to the average.
The RSI that monitors bullish strength has a current monthly reading of: Neutral Bear
The RSI that monitors bearish strength has a current monthly reading of: Bearish
The strength demonstrated over the last 5 months is currently: Bearish
Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bearish
The price relationship to the moving averages currently suggest closing shorts and protecting profit.
Current chart score suggests that Bullish Sentiment is present.
The anticipated upcoming trade range is between 1101.10 - 1191.22
Price Consolidation has formed between: 1075 - 1180
If RUT is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 1132
Price movement has returned to the Trending Moving Average this suggests either a stall while averages catch up to the prices or a turn in the prices in the opposite direction
The RSI that monitors bullish strength has a current daily reading of: Neutral Bear
The RSI that monitors bearish strength has a current daily reading of: Bearish
The strength demonstrated over the last 5 days is currently: Bullish
Comments:
The short term trend has indicated that it is running out of steam and appears to be preparing for a continued drop.
The monthly indicators are showing that the bear hasn't finished. That bottom appears to be between 700 - 798.
If the month of April does not confine itself to between the high and low of March, then we can have an extension to the bear. If April is able to stay between those levels, depending on the disposition of the bar/candle and the direction of the close - the floor (960) can be considered solid.
Since the other shoe hasn't dropped (America) as far as complete lock down and closures, there is room for the current support of 960 to snap.
STD DEV for April is: 1050 - 1255 (reflecting no volatility) 1316 - 1636 (with volatility)
STD DEV for 1 April is: 986 - 1319 (reflecting all the volatility we have witnessed in the last 21 days).
Be cautious - both in trades and your own health.
-Price Prophet
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
