7-10-16
RTH @79.45 – bullish – Rallies to challenge the 80.10 all-time-high
RTH rallied strongly off the 74.01 low (June 27, 2016) to post a new YTD high at 79.46 (July 8, 2016). Bullish momentum suggest it is likely to challenge the 80.10 all time high (December 14, 2015). A decisive break through the latter is needed to confirm a 19-month base over the 66.66/66.92 double bottom (August 24, 2015/February 8, 2016 lows) and extend the rally towards 82.00 next.
However, failure to break through the 80.10 tough resistance area would signal loss of momentum, and suggest the 19-month range remains intact.
Outlook:
Daily: bullish
weekly: bullish
Monthly: bullish
RTH @79.45 – bullish – Rallies to challenge the 80.10 all-time-high
RTH rallied strongly off the 74.01 low (June 27, 2016) to post a new YTD high at 79.46 (July 8, 2016). Bullish momentum suggest it is likely to challenge the 80.10 all time high (December 14, 2015). A decisive break through the latter is needed to confirm a 19-month base over the 66.66/66.92 double bottom (August 24, 2015/February 8, 2016 lows) and extend the rally towards 82.00 next.
However, failure to break through the 80.10 tough resistance area would signal loss of momentum, and suggest the 19-month range remains intact.
Outlook:
Daily: bullish
weekly: bullish
Monthly: bullish