The small cap ETF, Russell 2000 $IWM has been in significant correction since it peaked around $173.40 in September 2018. It has fallen to as low as 125.85 by December. Since then, price has rebounded, but we should anticipate resistance as it approaches $145.IWM Daily Chart(click to enlarge)Resistance:- The prevailing downtrend has been sharp, so we believe the market is still bearish, or at most shifting into a sideways market. Overall, we would say it is bearish-slightly-neutral.- With this outlook, we should respect the resistance around $145.- There is a support/resistance pivot here, coincident with a falling trendline resistance.- Furthermore, the RSI is approaching 60, which also suggests we should anticipate resistance ASSUMING that the prevailing bearish momentum is still intact. - A break above $145 would not necessarily signal a bullish reversal, but it would suggest the more likelihood that the market has flattened and entered more of a sideways consolidation mode, and is no longer in bearish correction mode.- More now though, let's respect the $145 resistance and anticipate a dip back towards the 125.85 low up to the $130 handle.- A break below that support would open up $120.