IWM is the iShares Russell 2000 ETF that seeks to track the investment results of the RUSSELL 2000 index composed of small-capitalization U.S. equities. Recently I posted through twitter the bullish flag pattern that has recently given a buy signal once it broke above 118.35$ level. The target of this bullish flag is equal to the flag pole from October lows at 103.47$ to 118.34$ highs.
Price has broken above the sideways consolidation and remains above the Ichimoku cloud. In the short-term we could see a pull back towards the 38% Fibonacci retracement. This pull back I believe will be a great buy opportunity. Why? Because of my longer-term view that I show below.
The inverted Head and Shoulder pattern has given a buy signal since the neckline is broken. A back test of the neckline will be something we would like in order to buy cheaper and confirm the neckline break out. If you would like to see how I trade this ETF, join me and gain access to my trades and signals that I post through my exclusive for members twitter account. For more information do not hesitate to send me an e-mail.
As always, thank you for taking the time to read my new post.