Doomsday bears have been looking for RUT to go much lower and cheering every slump but its been an accumulation all along.
Finding support on the 0.382 retracement is BULLISH and that is also cycle top support.
Now in a tight circled price band - this is patterns within patterns; an accumulation within an accumulation.
Somewhat bowl shaped and plenty of chop show that this bear market was nothing but a retracement to then move on up.
Bullish divergence since the impulsive low BACK IN MAY, now looking to push into the upper quadrant to get the show on the road.
The circled accumulation is printing just below the 50 week MA - good chance it will pop above soon enough and the "Mark Up" bull market will be underway.
Last slump was a re-test of the Supply Line also printing a Shakeout Reversal Pattern through support and 0.382 to then move away from the area and print the accumulation.
Its all there - will be moving on up soon enough πΌ.
i agree bears are running out of time, they have been trying to crash this thing for a whole year now without any success. there is so much demand at the 2018 and 2020 resitance levels that this thing refuses to go below 1650. maybe a good bull trap and off to the races.
CrashWhen
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To the moon
wealthjustin
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Not even close
vegasnath
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Hi what are your thoughts on Tilray now it has fallen below &2 TIA