IWM went over the first resistance zone from my earlier post (linked). A long term trendline (white) that connects the two low closes from March 2020 gives us 227.50 area as another resistance. You can see recently when price was over the white line it eventually moved back under. In a a weekly context, price has plenty of room to move lower.
Will be looking for RSI-14 to get back under 50. I want to see more bearish signs before week's end to stay in this swing trade.
I had a small position of 31Mar 210 puts and added more today.
Will be looking for RSI-14 to get back under 50. I want to see more bearish signs before week's end to stay in this swing trade.
I had a small position of 31Mar 210 puts and added more today.
Bình luận:
IWM opened above that white line today, and price is near all time highs. I take one look at the monthly chart and think, 'This will not last!' However since timing is the hard part, I am keeping my March31 expiry but also adding some April puts.
