JFD_Research

Russian Trading System Index - Daily - Found the floor?

MOEX:RTSI   RTS Index
Trade Alert

The RTSI is also among those, which got hit by the global equity slide. Now, it seems that the index had found its floor. Or is it just a temporary pit stop before it continues its traveling to the downside?
Certainly, for now, continue observing the key level of support at around 1082, where the rate is right now.
A break below that level could trigger some more selling and we could potentially see the rate dropping towards the April lows at around 1042.
The alternative scenario could be if the index bounces from the current level and shows determination for a move towards the 1128 level again. A break above that could open the path for a test of the downwards moving trendline .

Always have your SL in place.
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