The US Small Cap Stocks Are Gearing Up for a Bull Run
After a sharp decline in March 2020, the index showed resilience and made a significant upward move, approaching the 3,250 level.
Following that, Russel 2000 went into a period of consolidation and traded within a narrow range.
A bullish Pole & Flag pattern was identified on the chart during this consolidation phase.
Despite breaking out of the pattern, the index faced strong resistance and subsequently declined.
After finding support around 1,650, the index consolidated around this level for an extended period.
With a recent breakout, Russel 2000 appears to be strong at the moment and preparing for the next upward movement.
