Iwm

Major ascending broadening wedge here .. this is a huge Bearish pattern that I think will take IWM back to 198 and possibly 165.

The question is , do we tag upper boundary around 250 before it happens?

Let's look closer at the last 2month price action...

Bulls will say it's a pennant that will push IWM to 250



Bears see a bear flag



What do I see ?
226.50 is tough resistance.. I think price will reverse from there and close 219.70 gap close... 226.50 is tough horizontal resistance and also weekly 20sma


Below 219.00 and we head back to 215 support.



Below 215.00 and ascending wedge is activated and we are heading to 198.00



Strong long only over 232.00



226-232. Is chop and trap area ..

Wether IWM makes a new high or not this pattern to 160-190 will play out this year


This is a zoomed out picture of the weekly.. only broke it once in the fall of 2020 crazy IPO run