Potential Bullish Continuation
Title: Russell 2000 Index Futures ( RTY1! ),H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1795.1
Pivot: 1700.5
Support : 1659.8
Preferred Case: On the H4, with price moving in an ascending trendline on the RSI , we have a bullish bias that price will reverse off the pivot at 1700.5 at the pullback support in line with the 78.6% fibonacci projection to the 1st resistance at 1795.1 at the pullback swing high in line with the 50% fibonacci retracement and 78.6% fiboancci projection.
Alternative scenario: Alternatively, price may break the support structure at the pivot and drop to the 1st support at 1659.8 at the swing low in line with the 61.8% fibonacci projection .
Fundamentals: Equities continue to experience a volatile summer trading season as Russell 2000 futures continue to trend lower, giving us a bearish bias on Russell 2000.
Type : Bullish Rise
Resistance : 1795.1
Pivot: 1700.5
Support : 1659.8
Preferred Case: On the H4, with price moving in an ascending trendline on the RSI , we have a bullish bias that price will reverse off the pivot at 1700.5 at the pullback support in line with the 78.6% fibonacci projection to the 1st resistance at 1795.1 at the pullback swing high in line with the 50% fibonacci retracement and 78.6% fiboancci projection.
Alternative scenario: Alternatively, price may break the support structure at the pivot and drop to the 1st support at 1659.8 at the swing low in line with the 61.8% fibonacci projection .
Fundamentals: Equities continue to experience a volatile summer trading season as Russell 2000 futures continue to trend lower, giving us a bearish bias on Russell 2000.
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