RUSSEL to mid August

25 Jul 2021

Rassel has been moving since the beginning of March inside a channel betwenn 2100 and 2350-ish. The POI of this channel is at 2230. The bottom of the channel was confirmed by a strong upward movement and the POI was reached on July 22st. The correction after the first downward movement seems to indicate further downward movement. The downward movement might find a support on a Fibonacci retracement of the bottom confirming upward movement at either 2177, 2160, 2145 or 2123. Once a support is found uptrend should be resumed returning to the POi and then further upward to the top region of the channel.

Tradong Idea:

SHORT: 2198
SL: 2211
TP: 2166

after the downward movement finds a support

LONG: 2166
SL: 2113
TP1: 2230
TP2: 2260
TP3: 2310