Mini Russell is now ready for a recovery as stated yesterday. The break above 1075/73 was expected & we hit our target of 1087 perfectly. A break
Mini Russell 2000 December contract Daily Forecast - 17 October 2014Mini Russell is now ready for a recovery as stated yesterday. The break above 1075/73 was expected & we hit our target of 1087 perfectly. A break above 1089 is expected today & targets 1095/96. We should struggle here initially but the outlook is now positive so a break higher eventually is likely. Any shorts therefore need stops above 1101. Be ready to go with an expected break higher to target 1106/07 then resistance at 1113/15.
Immediate support at 1073/75 should hold the downside but longs need stops below 1068. A break lower risks a slide to 1057/53 for a buying opportunity with stops below 1050. If we continue lower look for a buying opportunity at 1040/39 with stops below 1033. An unexpected break lower targets 1025 then 1016/15 for a buying opportunity.
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