The 8MA and the 20MA are just starting to rollover, so watch to see if there is follow through tomorrow.
At at glance the 20MA is moving sideways which gives me no guidance on direction. Lets break it down:
Bullish:
- Higher high on the daily charts
- Price is still above the 20MA
Bearish:
- Broke the uptrend line on the daily chart and has now spent 6 sessions below it.
- Starting to form a mini head and shoulders pattern on the daily
- 50MA and 200MA still pointing down
Keep in mind that the current geopolitical issues could move the markets very quickly in the coming days and weeks as oil prices get pushed around.
RUT Daily Chart:
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