US2000 Index | Double Confluence Test – Neckline & Trendline

The US2000 (Russell 2000) is completing an Inverse Head and Shoulders pattern on the daily chart — a classic bullish reversal signal. However, price has not yet closed above the neckline, which currently aligns with a descending trendline from the November 2024 highs. This creates a strong confluence zone of resistance around 2,110.

Adding to the bullish structure, the 10 SMA is sloping upward and has supported price during the formation of the right shoulder. This suggests rising short-term momentum, but buyers still face a major decision point at the current level.

Support at: 2,027.6 🔽
Resistance at: 2,110 🔼, 2,200 🔼, 2,315 🔼

🔎 Bias:
🔼 Bullish: A daily close above 2,110, which breaks both the neckline and descending trendline, would confirm the inverse H&S pattern and likely trigger a move toward 2,200 and 2,315. The rising 10 SMA may continue acting as dynamic support during this breakout.
🔽 Bearish: Rejection from this confluence zone and a breakdown below 2,027.6 would invalidate the pattern and could reintroduce bearish momentum.

📛 Disclaimer: This is not financial advice. Trade at your own risk.