IWM is within a 2 year channel with distinct points.
Lower end (red arrows) around $144-$145
Upper end (black arrows) around $160
Highlighted areas are times in which we breached those areas.
Yesterday the IWM traded down as low as $144.25, buyers stepped in to drive the ETF up.
Buyers have stepped into and bought around that area for the past 2 years.
Solid support.
Resistance of $160 is just as solid.
Lower end (red arrows) around $144-$145
Upper end (black arrows) around $160
Highlighted areas are times in which we breached those areas.
Yesterday the IWM traded down as low as $144.25, buyers stepped in to drive the ETF up.
Buyers have stepped into and bought around that area for the past 2 years.
Solid support.
Resistance of $160 is just as solid.