Mini Russell recovered the 100 month moving average at 1053 to try shorts at 1064/67 with stops above 1072. Prices actually topped at 1073 but if shorts
Mini Russell 2000 December contract Daily Forecast - 15 October 2014Mini Russell recovered the 100 month moving average at 1053 to try shorts at 1064/67 with stops above 1072. Prices actually topped at 1073 but if shorts were held the reward was a dip to 100 month moving average at 1053. Above 1064 today sees a retest of strong resistance at 1073/75. Exit longs & try shorts with stops above 1080. Go with a break higher using 1075/73 as support & look for a move towards 1087 to exit longs, then a selling opportunity at 1091/95, with stops above 1101.
Failure to beat strong resistance at 1073/75 should trigger a move lower towards 1060 then 1052/50 in the bear trend. If we continue lower a retest of 1044/43 before Monday’s low at 1040/39 likely now. A break lower today then targets 1034. Any further losses this week could target 1025 then 1016/15 for a buying opportunity.
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