December E-Mini Russell 2000 Index Futures Weekly Chart: 12/7/23

Last week we saw the December E-mini Russell 2000 Index futures continues its bullish run with its third consecutive green candle closing into the Ichimoku cloud and above its 52-week moving average. With this move up, the MACD showed a bullish cross indication by crossing its signal line. RSI is trending up along with price. A continuation of this uptrend might find resistance at the top of the Ichimoku cloud (~1,906) and at the 200-week moving average (~1,930). A reversal to the downside might find support at the recent lows at the end of October (~1,640).

Please Note:
Commentary and charts reflect data at the original time of analysis (12/01/23). Market conditions are subject to change and may not reflect all market activity.