Chart of the day

Russell2000 is testing the short-term uptrend support line 1985 level. A break below 1985 again will lead to a downside extension and a test of important 1700 and will possibly be the beginning of the fifth wave down.

Only in the case of a clear confirmed break above 2060, we can see an immediate upside extension to 2150. A break below 1970 will mark the downside extension in the long-term fifth wave.

_{Long trades could be opened here only upon a confirmed break above 2060. Short trades have a possible better risk to reward and you can open it up on a break below 1980 or here if you have more risk aversion but with a narrow stop loss just above 2040.}