Mini Russell unable to beat 1120 for the last 3 sessions as we become overbought. Sooner rather than later we expect the bear trend to resume. Downside
Mini Russell 2000 December contract Daily Forecast - 28 October 2014Mini Russell unable to beat 1120 for the last 3 sessions as we become overbought. Sooner rather than later we expect the bear trend to resume. Downside pressure today targets 1110/09 then good support at 1101/00. This held the downside perfectly yesterday & could do again today. Failure here however then targets 1095 & 1089/88. A good chance of a low for the day if we fall this far but longs need stops below 1084. Just be aware that a break lower targets 1081/79.
An unexpected break higher today through 1120 however targets 1124/25 & possibly 1130/31. Exit longs & try shorts expecting a high for the bounce in the bear trend, with stops above 1137.
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