Russell 2000 technical analysis In 30 seconds | Forexlive

Watch the following technical analysis for Russell 2000 (30 second video):

The area close to 1800 seems to be a ‘magnet’ pulling the price to it. If and when it gets to the double support shown within the video, watch for shorts to cover and early bulls to take some Long bets. That spot introduces an attractive reward vs risk ratio for the bulls. However, if the price continues to fall, then we might have a confirmed bear flag broken to the upside.

Will Russell be getting worse as shown below by Bloomberg, or will it stop close to 1800?

Russell 2000 Capitulates: The small cap-heavy index is down 20% from November highs, on track to enter bear market. More than one-fourth of the index’s components had hit 52-week lows on Friday – the highest reading since March 2020 https://t.co/2AT7Djugqg pic.twitter.com/vmzyA7EveF

— Bloomberg (@business) January 24, 2022

I will be looking for a Long if it gets there, due to my stop being close and profit potential being interesting, with the double support on the technical chart. That is my opinion, not a trade recommendation.

Trade Russell 2000 at your own risk. See ForexLive.com technical analysis for addtitional perspectives.