Impending Breakout Alert
It’s Ross Givens here with the Chart of the Day. Unveiling the intriguing dynamics of the small-cap Russell 2000 index, I’ve identified not one, but two compelling head-and-shoulder patterns. The classic bearish formation, breaking below the 200-day moving average, foretells a potential plunge. However, a recent twist reveals an inverse head-and-shoulder pattern, a bullish signal. The index is poised to breach the 200-day moving average ‘neckline’ once again.
November 16, 2023
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