Cause it has been an overreaction and so the recover started soon. The index rised back into the trend channel but stayed near to the lower limit.
Since this time it swung around the lower limit and has formed a secondary trend channel.
The sentiment is positive, and in terrain.
The football worldcup showed that Russians can organise a global event; there haven´t been big chaos and no greater problems with hooligans.
This helped to get a better image of the russian culture and their capability to manage great challenges. Perhaps it´ll give a new chance for negotiations between the US and Russia; and no new bad news from Syria (concerning military confrontation between the two blocks).
The russian industry isn´t in a well situation; corrumption and political capriciousness are hindering the prosperity.
In comparison to other markets the russian isn´t overbought and overvalued.
Risks are coming from a possible correction in oilprices and the new strength from the US-Dollar.
Technically: as long as RTS stays within the trend channel (one ore both) the positiven trend is alive.