Chart of the Day – Russell 2000 – (September 26th, 2023)
<div><p><div><h2 itemprop="headline">Russell 2000 nearing some key support. </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>We have discussed the Russell 2000 head and shoulder pattern and long term double top on many venues, whether this weekend’s <a href="https://www.youtube.com/watch?v=4LnZfzEat08">“Week Ahead” video,</a> or on our <a href="https://www.forexanalytix.com/webinars">daily FACE shows,</a> it’s a familiar chart. However, the daily RSI has just reached oversold. Oversold and become MORE oversold and the pattern targets are actually towards 2022 lows, but the 78% retracement of the March lows to July 2023 highs is at 174.42, and the ascending trend line of the Oct 2022 lows to present day is not far away. These may be levels that provide a bounce and better levels to be on the short side like closer to 180 vs where we currently trade at 174.50.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10799" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17.png" alt="" width="1502" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17-400×223.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17-800×447.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17-768×429.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17-1500×838.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17-705×394.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/IWM_2023-09-26_12-53-17-450×251.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
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