The small cap index $RUSSEL has had a good past couple of months and has bounced back from its lows. We visited the small cap index on May 1st when we identified the trend reversal. The $RUSSEL was in the recovery mode after the Liberation Day capitulation.
RUSSELL in a bounce back mode. But upside is capped @ 2400 for IG:RUSSELL by RabishankarBiswal — TradingView
This cup and handle pattern is still on hold, and I also predicted that the upside is capped @ 2400. Currently the $RUSSEL is @ 2222.
So how much upside can we expect from here with
DXY making new lows? My assumption is that $RUSSEL will fail to break above 2400, and the handle part will not break out of the reverse neckline. So, the upside in the small caps is capped @ 2400 which seems to be a major resistance indicating a 9% upside from here.
Verdict : $RUSSEL Cup and handle pattern nearing completion. 2400 is the upper resistance. Still some more room to run.
RUSSELL in a bounce back mode. But upside is capped @ 2400 for IG:RUSSELL by RabishankarBiswal — TradingViewThis cup and handle pattern is still on hold, and I also predicted that the upside is capped @ 2400. Currently the $RUSSEL is @ 2222.
So how much upside can we expect from here with
DXY making new lows? My assumption is that $RUSSEL will fail to break above 2400, and the handle part will not break out of the reverse neckline. So, the upside in the small caps is capped @ 2400 which seems to be a major resistance indicating a 9% upside from here.Verdict : $RUSSEL Cup and handle pattern nearing completion. 2400 is the upper resistance. Still some more room to run.
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