IWM Technical Analysis & GEX Insights

Market Structure Analysis:
* Current Trend: IWM shows a short-term ascending wedge pattern on the 4-hour chart, indicating a consolidation phase with upward bias.

* Support Levels:
* Key Support at $221.36: Significant level backed by Gamma Exposure (GEX) analysis indicating strong PUT activity.
* Critical Support at $217.84 and $216.70: These levels provide additional safety nets in case of a bearish breakdown.

* Resistance Levels:
* Immediate Resistance at $223: Corresponds to CALL wall activities with notable Gamma Resistance.
* Major Resistance at $227.41: An inflection zone coinciding with recent highs and GEX analysis.

Key Gamma Levels:

* Gamma Resistance:
* $223 (39.39% CALL Resistance): Expected to act as an immediate resistance.
* $227 (8.91% 2nd CALL Wall): A crucial level, challenging further bullish movement.

* Gamma Support:
* $221.36 (Highest Negative NETGEX PUT Support): This is the most substantial support level, critical for holding bullish sentiment.
Technical Indicators:

* MACD: Flattening near zero, suggesting potential sideways movement or preparation for a breakout.

* Volume Profile: Diminishing volume in the consolidation zone, often preceding a significant move.

Trade Scenarios:
1. Bullish Case:
* Entry: Above $223 with increased volume.
* Target: $227 (1st target) and $230 (2nd target).
* Stop-Loss: Below $221.36.

2. Bearish Case:
* Entry: Below $221.
* Target: $217.84 (1st target) and $216.70 (2nd target).
* Stop-Loss: Above $223.

Outlook:
* Consolidation within the wedge suggests indecision; the breakout direction will set the tone for IWM in the short term.

* High Gamma activity around $223 and $221 implies that these levels are pivotal for the upcoming price action.

Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and manage risk responsibly before trading.