Russel 2000 ETF (IWM) showed a Three Outside Down, reversal pattern, after getting near to the all time high level. Watch out for a start of down trend. 200D SMA support is at $114.
Current PE for Russell 2000 is 50.41 (over value).
Base on past IWM chart pattern, IWM has nice tradeable pattern in two directions (up trend and down trend).
Original post from My Stocks Investing Journey by Marubozu.
Gold has dropped a lot and getting near to the 5 years low. Gold is getting very attractive at the current level for many gold lovers, and many investors are tempted to buy gold at this level. However, technically speaking base on the chart, there may be more down side coming after the Gold (GLD) has broken the significant support at $115. GLD is trading in a confirmed down trend.
Currently GLD is rebounding from the low of $109 but $115 will serve as a Support Turned Resistance. If GLD is unable to break this resistance, the price target will be $106 base on 161.8% Fibonacci Expansion.
Original Post by Marubozu My Stocks Investing Journey
Crude oil has reached 5 years low. Base on USO (United States Oil Fund) chart, the support is at about $29. There is a trading range of $10 ($29 to $39) base on the chart. Risk vs Rewards looks very attractive to long USO at current level.
Original Post by Marubozu My Stocks Investing Journey