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Chart of the Day: US2000

The US2000 has tracked a series of lower highs since May this year. Price is for a third time pushing into trend resistance as the top of the multi-month range. With clear skies for US stocks, will we see the index break above the resistance level?

US2000 Daily Chart
"US2000 Daily Chart"

Charts indicate the US2000, an index comprised of 2,000 smallest-American companies, shows the index closed significantly higher at 1589.32, mirroring record highs recorded by both US500 and NAS100. If bullish momentum takes the US2000 above the multi-month resistance, expect consolidation around the higher high. Moreover, a breakthrough is likely to validate record highs on narrower indices.

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