IWM declined after a breach of the upper Bollinger band attempted to form a dark cloud setup
$iShares Russell 2000 ETF(IWM)$ : The bullish Friday was not general for all the stock market, small caps declined after a breach of the upper Bollinger band attempted to form a dark cloud setup.
A gigantic U turn has been completed after the top in November 2024. The Bollinger breach may have set the perfect rejection for "the handle", potentially aiming at the 20DMA matching the PoC of the current volume shelf, but for a better reset the $230 zone makes more sense.
A financial chart displaying the IWM stock price on a daily timeframe. The chart shows candlestick patterns, Bollinger bands, a 20-day moving average, and volume bars. A watermark with "S/R SmartReversals" is visible in the center.
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