iShares Russell 2000 ETF

Russell 2000 IWM hitting strong resistance

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This is a simple analysis of the Russell 2000 (IWM).

Today IWM filled the gap from the March 11th drop and bounced off resistance perfectly. Until Russell is able to overcome this resistance and use it as support, assume it will drop from here.

If I had to guess a direction, I think the odds of it going down are better than it going up, but I'm not a fortune teller. I only look for areas of opportunity where risk:reward is in my favor.

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