Russell 2000 Key levels ahead of US Open

Bearish Scenario:
The Russell 2000 index remains in a shorter-term downtrend, signaling continued bearish momentum. The key resistance level to watch is 2208. If an oversold rally occurs but faces rejection at this level, the index could resume its decline, targeting 2078, followed by 2015 and the psychological 2000 level over a longer timeframe.

Bullish Scenario:
A confirmed breakout above 2208 and a daily close above this level would invalidate the bearish outlook. This could trigger further upside movement, with resistance targets at 2230, followed by 2278.

Conclusion:
The near-term sentiment remains bearish, with 2208 as the key pivot level. A rejection from this resistance would reinforce downside risks, while a breakout above it could indicate a shift toward renewed bullish momentum. Traders should closely monitor price action around this level to assess the next move.

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