We are back in this blog space after a couple of days holiday. The RUSSELL 2000 ETF 
IWM failed at the same price point which it failed back in Nov 2021. It seems Price having a memory. It failed at the same price it failed in Nov 2021. After it failed from the top on 16th Dec 2024 it has recently retraced back to the 0.236 Fib retracement level @ 2237. It has been consolidating at that level and if it breaks down then the next support is @ 2167 .
Before theIWM breaks out form this pattern it has to complete the wedge forming consolidating pattern. In my opinion the direction will be decided by the 
US10Y . As long as the US10Y stays below 4.5% the IWM can consolidate here and then my break upwards as long as the bull market remains intact.
Direction ofIWM will be determined by US10Y
IWM failed at the same price point which it failed back in Nov 2021. It seems Price having a memory. It failed at the same price it failed in Nov 2021. After it failed from the top on 16th Dec 2024 it has recently retraced back to the 0.236 Fib retracement level @ 2237. It has been consolidating at that level and if it breaks down then the next support is @ 2167 . Before the
IWM breaks out form this pattern it has to complete the wedge forming consolidating pattern. In my opinion the direction will be decided by the US10Y . As long as the US10Y stays below 4.5% the IWM can consolidate here and then my break upwards as long as the bull market remains intact. Direction of
IWM will be determined by US10Y
Related publications
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.
Related publications
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.