Fundamental Overview
The Russell 2000 has been rallying steadily this week thanks to positive news both on the tariffs and inflation front. On Monday, we got a news from Bloomberg that the Trump’s team was studying gradual tariffs hikes.
On Tuesday, we got a very soft US PPI report and yesterday lower than expected US Core CPI data. The market pricing edged higher from 24 bps of easing by year end to 36 bps following the US CPI report.
This week might have marked the top in inflation hysteria and the repricing in rate cuts expectations, which should support the market going forward as long as growth doesn’t start to weaken too much.
Russell 2000 Technical Analysis – Daily Timeframe
On the daily chart, we can see that the Russell 2000 eventually bounced from the major trendline around the 2200 level after a failed breakout and rallied all the way back to the key 2300 resistance.
This is where the sellers are stepping in with a defined risk above the resistance to position for a break below the major trendline. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into a new all-time high.
Russell 2000 Technical Analysis – 4 hour Timeframe
On the 4 hour chart, we can see that we now have a range between the 2300 resistance and the 2200 support. The market participants will likely keep on playing the range until we get a breakout on either side.
Russell 2000 Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a minor upward trendline defining the current bullish momentum. The buyers will likely continue to lean on the trendline to keep pushing into new highs, while the sellers will look for a break lower to increase the bearish bets into the support. The red lines define the average daily range for today.
Upcoming Catalysts
Today we get the latest US Jobless Claims figures and the US Retail Sales data.
This article was written by Giuseppe Dellamotta at www.forexlive.com.Hence then, the article about russell 2000 technical analysis top in inflation hysteria was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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