Will Russel 2000 rises towards the 1640.7 level?

Anton Kolhanov Anton Kolhanov

Weekly forecast (November 7 – 11, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1817.2, which will be followed by moving up to resistance level 1876.4 and 1919.6.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1817.2, which will be followed by reaching support level 1695.3 and 1640.7.

Monthly forecast, November 2022

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 1782.5, which will be followed by reaching resistance level 1919.6 and 2033.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 1782.5, which will be followed by moving down to support level 1640.7 and if it keeps on moving down below that level, we may expect the market to reach support level 1520.3.

Author

Anton Kolhanov

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

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