Another unsustainable rally based on commodities

INDEX:RTS   Russian RTS Index
Following the recent oil             rally, the Russian equity index has also rallied about 30%. However, this - like the oil             rally and the Petrobras rally I posted about - is unsustainable.

See my post attached here for why the oil             rally is unsustainable.

Why is RTS             unsustainable?
Firstly, it is likely to follow oil's possible move down.
Secondly, Russia is still in quite a severe recession.
Thirdly, Russia's economy is forecast to contract 1.5% this year.

As long as the outlook for oil             looks poor (as it does in my opinion), then the Russian equity index shouldn't be making rallies of 30%.

The market has hit a strong level of resistance, as indicated by the upper horizontal black line.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out