Above 413 there's not much resistance from seeing another fast move up to 430 and 440,450.
On the downside, a pull back should find some support at 387.50 and then 375.
RUT Hourly Chart:
Sunday, March 15, 2009
RUT Hourly
The RUT created a Reverse Head and Shoulders pattern on the hourly chart with a projected target of 408. Near that area is also the 38.2% fib which should also act as a magnet and resistance level. Above that is an additional resistance level of 413.
Above 413 there's not much resistance from seeing another fast move up to 430 and 440,450.
On the downside, a pull back should find some support at 387.50 and then 375.
RUT Hourly Chart:
Above 413 there's not much resistance from seeing another fast move up to 430 and 440,450.
On the downside, a pull back should find some support at 387.50 and then 375.
RUT Hourly Chart:
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