Russel 2000 week of 25 - 31 July BearishUS Russel 2000CAPITALCOM:RTYchris_kehl_insightbb_comThe Russel 2000 closed this week at $2934.90 currently we have blown below our Fibonacci retracement of $3000.00 and have landed on downwards trend to test our 20 week moving average (MA) . Since the war on Iran is influencing the price of oil this week we are looking at testing the 20 week moving average closing next week down possibly 3%. If by chance we break down past the 3% landing at our next down leg of our retracement of around $2670 (9% lower from where we currently are)we may be looking at a testing the 50 day moving average closing down close to 10%. If by luck things turn to the brighter side we could bounce and gain 2% back testing our $3000.00 retracement, but this is a long shot for the near term outlook. My thoughts for the upcoming week are BEARISH. project a 3% loss for the week closing on the 31st.