RUT likely to start correction from 1550
Updated
After the historic sell off in December, RUT has completed four waves and is moving up in the fifth wave suggesting that it is a bullish move to the upside. RUT has also completed four of the five sub-waves of the fifth wave and just needs to complete the fifth sub-wave to complete the five wave structure. This is likely to be completed between 1550 and 1590 based on different Fibonacci ratios.
RUT is likely to correct down to between 1330 and 1380 levels before moving up in the third wave.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
RUT is likely to correct down to between 1330 and 1380 levels before moving up in the third wave.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Note
RUT moved into the target zone for Wave 1.PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Note
RUT is almost at the turning point if this Elliot wave count is correct. It seems to have completed the first wave and is likely to go down in wave 2 anytime now. This count will be invalidated if RUT moved above 1620.PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
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