Will RTY Daily Resistance Hold?
The RTY daily time frame is in a down trend. The
market is hitting the down trend line. At the same
time the market is hitting an up Fibonacci
extension price point 1890.50. Usually when this
happens. The market has a bearish reaction. If the
market continues to push bullish and breaks the
down trend line. It will be a strong sign the buyers
are taking control. If the market cannot break and
close above the down trend line. It is expected
the sellers are taking control and will push the
market back down.
As long as the market stays below the daily
down trend line. It will be a good idea to turn
to the one hour time frame and to look for
high prices in the sell zone.
market is hitting the down trend line. At the same
time the market is hitting an up Fibonacci
extension price point 1890.50. Usually when this
happens. The market has a bearish reaction. If the
market continues to push bullish and breaks the
down trend line. It will be a strong sign the buyers
are taking control. If the market cannot break and
close above the down trend line. It is expected
the sellers are taking control and will push the
market back down.
As long as the market stays below the daily
down trend line. It will be a good idea to turn
to the one hour time frame and to look for
high prices in the sell zone.
