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IWM Forming a Bullish Breakout

IWM has been struggling to breakout above the red trendline around $200.76. There was one failed rally marked by the orange curve. IWM had a pullback below the red resistance line, and is now attempting another bullish breakout. This one seems a lot more promising, but I would like to see continued buy volume. The key price target ahead is $233.10, and small caps could go on a nice rally from this breakout.

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