RTY1, is primed for a directional move.
Updated
The Russell 2000 futures, that represent small caps and broader market strength, is primed for a directional move. A mature multi day balance has a potential for a breakout to upside. The upside target levels are marked. The related indices just broke to upside today. The Russell has a potential to catch-up.
Note
It broke to upside as expected, however it was not a strong move. Very narrow range. There’s a lot of resistance ahead. It could take weeks to reach the targets. There’s also a possibility of a fake move.Note
it hit the second target 1472 and slightly overshoot due to momentum. Market action at its best...Note
The price has filled the projected area top and final target. The market action at its best. It is typical to start consolidation within the new area before the market either resumes the uptrend or rejects that area and comes back to previously accepted value.Note
The Russell is pulling back of the edge of the projected top. The 1460 is an area to hold and push back to the top edge. Typical market action behaviour.Note
The price retested the first support, which was a second target on the way up. Loosing this level would open the door to retest the next level 1460. So far this is a shallow pullback.
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