WE BUY RTS FROM 1280 WITH A PURPOSE OF 1400, $ 120 FOR A LOT.
BY OCTOBER 16-23 WE EXPECT THE ENTRANCE PRICE, RSI WILL ALWAYS BE CLOSE BY 30,
WHICH INCREASES THE PROBABILITY OF THE Bounce And INDEX GROWTH.
The Russian stock market has crossed above its long term (since 2008) long term bearish pattern this March and is currently aiming at the 1,340 1W Resistance. There is potential that the former Lower High trend line will turn into support now. Our long term target on this market is 1,500.
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SHORT 1213.52
stop loss 1253.45
Take PROFIT 1151.50 (1)
Take PROFIT 1120 (2)
Take PROFIT 1085.20 (3)
Take PROFIT 1050.50 (4)
Take PROFIT 1019.50 (5)
Take PROFIT 985 (+18,83%)
There will be no miracle. Less revenues from falling oil market will drag the index lower
as it should be around 800 already and could hit 530 when the oil would retest a multi-year low.
The correlation index for the past 12 months shows negative correlation but it is a temporary situation
as on the longer periods (20+ months) it is positive.
This will change...
With the announcement of the new and stronger sanctions against the russian industry and products the index RTS crashed and fell out of the older but positive trend channel.
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...
