- Price has retraced back into the support zone at $1,738.
- Bullish trade opportunity with good upside.
Recap
The last time we looked at RTY was back on March 28th. There was a support band that formed at the $1,738 level, which is close to the 78% Fib level too. Price did rally out of the support zone by 200 points and has now retraced back into it. Let’s take a look at the possible trade setups moving forward.
Technical analysis
The support zone mentioned above has attracted the price once more, and this provides bulls with a trade setup. Going long here and placing stops below the lows made in March, with the first target at $1,826.9 and the second target at $1,900.6 is the bullish trade setup that is presenting itself. Take a look at the chart below.
