IWM is ready to make a larger move out of this wedge

📈 IWM Technical Outlook – Wedge Break Imminent

Ticker: IWM (Russell 2000 ETF)
Timeframe: 30-minute candles

🔍 Current Setup

IWM has formed a symmetrical wedge, with price compressing between a descending resistance line (~227) and an ascending support line (~223.65). This pattern reflects a balance of buyers and sellers — and it’s nearing its apex, signaling that a decisive breakout is likely very soon.

📊 Breakout Levels
🚀 Upside (Bullish Scenario)

Trigger: Close above 227.00 with volume

Intermediate Targets:

231.50–232.00 → Prior swing high resistance

235.00–236.00 → Momentum continuation zone

Measured Move Target: 237.00

🔻 Downside (Bearish Scenario)

Trigger: Close below 223.65 with volume

Intermediate Supports:

221.00 → Local demand area

217.00 → Previous consolidation base

Measured Move Target: 213.50

📈 Volume Analysis

Recent candles show a pickup in volume, a classic sign that markets are preparing for a strong move.

Whichever side breaks first is likely to carry momentum, with follow-through expected.

⚖️ Probability Bias

Current price action suggests buyers are defending the rising trendline, but momentum has slowed since the last rally.

A strong close above 227 would put bulls firmly in control.

Conversely, failure to hold 223.65 opens the door for a deeper correction.

✅ Takeaway

The wedge is tight, and the breakout is imminent:

Bullish Break > 227: Look for 231.50 → 235 → 237

Bearish Break < 223.65: Look for 221 → 217 → 213.50

Stay alert — volume will confirm the true direction.