Russell Riddle

By | August 14, 2015

The 1205 to 1215 area on the Russell 2000 weekly chart has been an important long term technical level. It contained price for all of 2014, and when that resistance was broken earlier this year its role reversed and it became support. The index tested this support zone in March and in May, and has been flirting with it again for the last three weeks. This week a “doji” candle formed, a candle with a narrow opening and closing range, right within its borders. It is a confusing candle (we’ve seen them before) at this juncture because it could be a reversal or a continuation indication. We’ll take a closer look at the major market index charts over the weekend.


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