Russell 2000 weekly forecast: Will a downtrend start soon?

Anton Kolhanov Anton Kolhanov

This/next week forecast (August 1 – 5, 2022)

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 1920, which will be followed by reaching resistance level 1966.

Downtrend scenario

An downtrend will start from resistance 1920 or as soon, as the market drops below support level 1795, which will be followed by moving down to support level 1715 and 1674.

Previous week forecast

Monthly forecast, August 2022

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 1795, which will be followed by reaching resistance level 1919 and if it keeps on moving up above that level, we may expect the market to reach resistance level 2100.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 1795, which will be followed by moving down to support level 1674 and if it keeps on moving down below that level, we may expect the market to reach support level 1520.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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