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Russell 2000

26 Jul 2021 ‚óŹ 07:43 AM

Russel 2000 index tested the 40WEMA in the previous week and bounced back from there to give a positive weekly close. It looks like wave 4 is possibly complete and wave 5 has started to unfold. Also, the weekly momentum indicator has completed its pullback cycle. In the near term, the index can possibly rise higher towards the all-time high of 2354. Higher levels will emerge as the up move plays out. One needs to keep in mind that wave 1 and 3 were equal and this indicates that possibly wave 5 is likely to extend.  

Elliott Wave Technical Analysis on Russel 2000 | Indiacharts

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