Elliott Wave Intraday View on Russell 2000 (RTY) Calling for Index to Resume Higher
Short Term Elliott Wave view on Russell 2000 (RTY) suggests rally from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave 1 ended at 2311.4 and pullback in wave 2 ended at 2198.51 like the 1 hour chart below shows. The Index then extends higher in wave 3 with internal subdivision as an impulse. Up from wave 2, wave ((i)) ended at 2240 and dips in wave ((ii)) ended at 2203.3. Rally in wave ((iii)) higher ended at 2424.5 and pullback in wave ((iv)) ended at 2386.5. Final leg wave ((v)) ended at 2455.6 which completed wave 3 in higher degree.Wave 4 pullback is in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave 3, wave (i) ended at 2425.9 and wave (ii) rally ended at 2449.7. Wave (iii) lower ended at 2396.3 and wave (iv) rally ended at 2413.8. Final leg wave (v) ended at 2391.4 which completed wave ((a)) in higher degree. Rally in wave ((b)) ended at 2435.6. Expect wave ((c)) lower to end at 2330 – 2370 area to complete wave 4 in higher degree. From there, the Index can then see further upside or rally in 3 waves at least.
Russell 2000 (RTY) 60 Minutes Elliott Wave Chart
Russell (RTY) Elliott Wave Chart
RTY_F Elliott Wave Video
/1Uyo2H8pURw
Source:-forecast.com/news/elliott-wave-intraday-view-russell-2000-rty-calling-index-resume-higher/
Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.