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$IWM has rejected at the high-timeframe resistance range I highlighted in some of my prior updates, aligning with the 1.618 Fibonacci extension level, where the price also reacted the last time it was tested.
Right now, the price is testing the 2D Bull Market Support Band, which has been a strong reversal area over the last couple of months, and where I expect a bounce to develop next week.
However, if the price breaks below this range and fails to reclaim it, I would expect a deeper pullback toward the prior high-timeframe resistance range, which could then act as support.
For now, all eyes remain on the 2D Bull Market Support Band. This is a critical level for the bulls to defend.