The Russell 2000 experienced a decline yesterday, halting the recent relief rally as it approached crucial resistance points. With the start of the new month, a deluge of critical economic data is expected, potentially influencing market dynamics. On the daily chart, the Russell 2000 has retreated to the 2020 level, where sellers anticipate a break below the 1920 support. Buyers, however, aim to invalidate the bearish setup and push prices higher. On the 4-hour chart, the price faces opposition from the downward trendline and the 50% retracement level, providing impetus for sellers. Conversely, a breakout above the trendline could reverse the trend for buyers. The 1-hour chart reveals a potential breakout from the range, with sellers cautiously monitoring a spike above the trendline and buyers aiming to invalidate the bearish scenario. Key economic data set to be released includes the US Q1 GDP and the latest US Jobless Claims figures, with the US PCE report concluding the week tomorrow.