$IWM
Added 2024-01-30 14:19:24 +0000 UTCVery interesting here from $IWM, it pulled back after rejecting at the blue line at $200 but managed to find support at the strong confluence level of the 50 Day MA and the 0.38 Fib and bounced....and testing the $200 blue line again now which has been a resistance line for the last 2 years.
$IWM needs to break above this line and hold and we can say that Wave 2 is now complete and we could see next an aggressive move up for Wave 3 to the 1.618 Fib.
If the price action does reject at $200, then I would expect another test at the 0.5 Fib where the 200 Day MA is waiting right now and then a bounce to follow for Wave 3.....overall, looking bullish for $IWM here for the next few months.
