Broadening Top of IWM, Russell 2000
- Broadening Formations like this one especially in Higher time frames can be used to pick goo swing trades Instead of breakdown or breakout trades.
- In this case Price has hit the upper boundary of the pattern But there is a Bull Flag which is likely to take price towards the resistance line of Broadening formation again.
- For bears Immediate levels to watch out for weakness is 50 Day SMA and the low 133.17. close below 50 Day SMA should give some strength for Russell bears.
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