Russell 2000 Futures (RTY1!) D1 | Swing-low Support Zone at 161.8% Fibonacci Extension
Russell 2000 Futures (RTY1!) D1 | Swing-low Support Zone at 161.8% Fibonacci Extension
Type:
Bullish Reversal
Key Levels:
Resistance: 2,188.20
Pivot: 2,091.00
Support: 2,038.30
Preferred Case:
Looking at the D1 chart, the price is falling towards a swing-low support and could stabilize around this level before reversing to bounce higher toward the 1st resistance at 2,188.20.
Alternative Scenario:
Price may break below the Pivot at 2,091.00 and fall toward the 1st Support at 2,038.30.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.