April 28, 2011

RUSSEL 2000 Trying to stay above resistance level

  • Russel 2000 Four hour chart.
  • Price has gone above resistance level of 855. After breakout price is retesting this level.
  • Price sustaining above 855 will be bullish for Russel 2000.
  • Range from which the breakout happened was about 40 points. Weekly close above 855 may take Russel 2000 to  890 and above in the short term.
  • Price sustaining below 855 will favor bears.

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