AndyM

A flat correction in the Russian index, advancing in the C wave

MOEX:RTSI   RTS Index
158 0 5
This is what the Russian index resembles. Now it is becoming more clear what the market wants to do. It is a flat correction with A and B being three-wave structures and C being an impulse. The same picture is in UKOIL             , while in USOIL             the C wave looks fuzzy due to futures switchover at the lows.

In any case, once the correction is over, new lows will be ahead - not just for Russia, but for Crude and SPX             as well.
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