Russell 2000 Technical Analysis – Rangebound price action with a bullish tilt ...Middle East

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Russell 2000 Technical Analysis – Rangebound price action with a bullish tilt
Fundamental OverviewThe price action in the Russell 2000 has been mostly rangebound in the past couple of weeks although the sentiment continues to favour more upside. The “growth scare” after the ISM Manufacturing PMI and the NFP report looks to be behind us thanks to the US Jobless Claims last week. This week we got some more positive news on the inflation front as the US PPI surprised to the downside and the US CPI yesterday showed some more easing. That should be good news as the Fed will likely be even more dovish from now on and the chances of three rate cuts by year-end solidify. Russell 2000 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Russell 2000 is t

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