Broadening wedge here, long term bullish, short term bearish..
I think IWM is headed to 165 fibonacci support or Sept lows.
Has a split channel with support on the white trendline, I think It tags it in the next couple of days (170-171).
If it breaks below 170 we're headed to 165..
Today IWM closed above its 20sma but got rejected by its 50sma.
Use those MA as your entries.
Below 20sma - Short to white trendline
Above 50sma and that's a breakout.. target 177,180
I think IWM is headed to 165 fibonacci support or Sept lows.
Has a split channel with support on the white trendline, I think It tags it in the next couple of days (170-171).
If it breaks below 170 we're headed to 165..
Today IWM closed above its 20sma but got rejected by its 50sma.
Use those MA as your entries.
Below 20sma - Short to white trendline
Above 50sma and that's a breakout.. target 177,180
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