Russell 2000 (RUT) hit the top of a Higher Highs trend-line that goes back to the week of January 30 2023 and whose rejections initiated corrections back to the 1M MA100 (red trend-line). At the same time, the 1W RSI just turned overbought (>70.00) for the first time since the week of January 12 2026, which kick-started the recent correction to the 1W MA50 (blue trend-line).
As a result, we have a combination of Resistance levels here and as long as the index doesn't break higher, it is technically possible to see a long-term correction towards the 1W MA200 (orange trend-line) at least, which has been the most common Support level in recent years but hasn't been tested in 1 year (since May 05 2025).
Therefore, we expect Russell to reach 2200 before it turns into a long-term buy again, unless the 1W RSI turns 35.00 first, which would be a good long-term buy opportunity on its own.
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As a result, we have a combination of Resistance levels here and as long as the index doesn't break higher, it is technically possible to see a long-term correction towards the 1W MA200 (orange trend-line) at least, which has been the most common Support level in recent years but hasn't been tested in 1 year (since May 05 2025).
Therefore, we expect Russell to reach 2200 before it turns into a long-term buy again, unless the 1W RSI turns 35.00 first, which would be a good long-term buy opportunity on its own.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.