$IWM - Bounce Fizzles
$iShares Russell 2000 ETF(IWM)$ - Bounce Fizzles
As anticipated yesterday, Small Caps attempted a bounce, but it faded upon encountering the 20DMA, resulting in a bearish candle. Price action will determine whether the Stochastic's bullish signal is valid or if today's move was a fakeout.
Using the 100DMA as a risk management reference is a prudent strategy. Worth noting: Small Caps never fail filling gaps.
Pullbacks are very easy to predict for Small Caps when the weekly candle breaches the higher Bollinger band. That was the case at the end of November, and so far price action is following the script. A potential bounce is brewing at a key support level. The complete analysis is open for everyone with a key indicator.
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- Twelve_E·01-07 10:08[Strong]LikeReport