RUSSELL 2000 - MINI RUSSELL 2000 FULL1224 - Daily - Technical analysis published on 05/05/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
44%
28%
28%
My opinion
Bearish under 1,813.86 USD
My targets
1,697.40 USD (-3.99%)
1,633.90 USD (-7.58%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on RUSSELL 2000 - MINI RUSSELL 2000 FULL0623 as long as the price remains well below 1,813.86 USD. The sellers' bearish objective is set at 1,697.40 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1,633.90 USD. In case of crossing, the next objective would be the support located at 1,467.89 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.5
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This analysis was given by didi059. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The RUSSELL 2000 - MINI RUSSELL 2000 FULL0623 rating is 1,768.00 USD. The price registered an increase of +2.55% on the session and was between 1,723.40 USD and 1,772.20 USD. This implies that the price is at +2.59% from its lowest and at -0.24% from its highest.1,723.40
1,772.20
1,768.00
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of RUSSELL 2000 - MINI RUSSELL 2000 FULL0623 in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 8 are bullish, 5 are neutral and 5 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,467.89 | 1,697.40 | 1,750.59 | 1,768.00 | 1,813.86 | 1,925.37 | 2,025.10 |
| Change (%) | -16.97% | -3.99% | -0.98% | - | +2.59% | +8.90% | +14.54% |
| Change | -300.11 | -70.60 | -17.41 | - | +45.86 | +157.37 | +257.10 |
| Level | Minor | Major | Minor | - | Intermediate | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,671.17 | 1,689.53 | 1,706.77 | 1,725.13 | 1,742.37 | 1,760.73 | 1,777.97 |
| Camarilla | 1,714.21 | 1,717.47 | 1,720.74 | 1,724.00 | 1,727.26 | 1,730.53 | 1,733.79 |
| Woodie | 1,670.60 | 1,689.25 | 1,706.20 | 1,724.85 | 1,741.80 | 1,760.45 | 1,777.40 |
| Fibonacci | 1,689.53 | 1,703.13 | 1,711.53 | 1,725.13 | 1,738.73 | 1,747.13 | 1,760.73 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,656.43 | 1,694.07 | 1,734.43 | 1,772.07 | 1,812.43 | 1,850.07 | 1,890.43 |
| Camarilla | 1,753.35 | 1,760.50 | 1,767.65 | 1,774.80 | 1,781.95 | 1,789.10 | 1,796.25 |
| Woodie | 1,657.80 | 1,694.75 | 1,735.80 | 1,772.75 | 1,813.80 | 1,850.75 | 1,891.80 |
| Fibonacci | 1,694.07 | 1,723.86 | 1,742.27 | 1,772.07 | 1,801.86 | 1,820.27 | 1,850.07 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,633.90 | 1,682.80 | 1,729.60 | 1,778.50 | 1,825.30 | 1,874.20 | 1,921.00 |
| Camarilla | 1,750.08 | 1,758.86 | 1,767.63 | 1,776.40 | 1,785.17 | 1,793.95 | 1,802.72 |
| Woodie | 1,632.85 | 1,682.28 | 1,728.55 | 1,777.98 | 1,824.25 | 1,873.68 | 1,919.95 |
| Fibonacci | 1,682.80 | 1,719.36 | 1,741.94 | 1,778.50 | 1,815.06 | 1,837.64 | 1,874.20 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 47.73 | |
| MACD (12,26,9): | -15.0500 | |
| Directional Movement: | -7.18 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 1,751.30 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,779.17 | |
| Elder Ray (13): | -15.62 | |
| Super Trend (3,10): | 1,834.48 | |
| Zig ZAG (10): | 1,766.80 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 29.23 | |
| TEMA (21): | 1,751.83 | |
| Williams %R (14): | -49.06 | |
| Chande Momentum Oscillator (20): | -42.00 | |
| Repulse (5,40,3): | 2.1700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 5.02 |
| MA7: | 1,755.06 | |
| MA20: | 1,778.80 | |
| MA50: | 1,799.51 | |
| MA100: | 1,843.91 | |
| MAexp7: | 1,754.97 | |
| MAexp20: | 1,771.00 | |
| MAexp50: | 1,800.47 | |
| MAexp100: | 1,825.19 | |
| Price / MA7: | +0.74% | |
| Price / MA20: | -0.61% | |
| Price / MA50: | -1.75% | |
| Price / MA100: | -4.12% | |
| Price / MAexp7: | +0.74% | |
| Price / MAexp20: | -0.17% | |
| Price / MAexp50: | -1.80% | |
| Price / MAexp100: | -3.13% |
Quotes :
-
10 min delayed data
-
CME E-mini Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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