Yet another mini-Megaphone in Russell 2000 index.
Using a log, the uptrend line from 2009 is as such. Now after a small breakaway from the lower megaphone line, price gap up again (continuation gap), i reckon 1192.16 can easily be broken.
by 31 Dec (timeline) it would be IMHO the final and last attempt to break 1212.57 which was the two previous high look back from the left (Mickette, we always need to look left to see the S/R line).
The blue area is what i call Triple Resistance area comprising of underside of 2009 uptrendline now resistance, 1212.57 which still remain as the Major resistance and the last resistance from the upper side of mini-megaphone
In a big picture, the moving averages is showing consolidation with whipsaws including 200ema.
Using a log, the uptrend line from 2009 is as such. Now after a small breakaway from the lower megaphone line, price gap up again (continuation gap), i reckon 1192.16 can easily be broken.
by 31 Dec (timeline) it would be IMHO the final and last attempt to break 1212.57 which was the two previous high look back from the left (Mickette, we always need to look left to see the S/R line).
The blue area is what i call Triple Resistance area comprising of underside of 2009 uptrendline now resistance, 1212.57 which still remain as the Major resistance and the last resistance from the upper side of mini-megaphone
In a big picture, the moving averages is showing consolidation with whipsaws including 200ema.
