"Bykov" support and technical factors
The day before, after reaching an annual peak, Russia"s market has adjusted to the background of sharply - a negative open trades in the United States, as well as the pressure of declining oil futures, which at the end of trading on domestic platforms struck down the level of $ 76 per barrel for Brent crude . Following the session, the MICEX index closed at 1,460 points support level, which can happen has already spread at the start of today"s trading, given the improved before the opening of the external background.
Major U.S. indices closed in negative territory. The main pressure on the shares provided quarterly corporate reports, which are mostly disappointed investors. Macro-economic statistics, published yesterday, was of a controversial nature, a negative effect on market sentiment has made the reduction in the number of new buildings.
pressure on all world areas provided and the statements of the authorities in China who rendered a decision on a number of banks to limit lending due to their lack of capitalization. Thus, in 2010 is planned to issue about $ 1.1 trillion, which is lower than in 2009. Before you start trading on Russia"s market of Chinese index traded in a symbolic advantage that can support the "bulls" at the start of the session. Published statistics on industrial production in China was only slightly worse than forecasts, but the overall growth of industrial production continues, that could support the quotes of raw materials. Rising dynamics in commodity areas have a positive impact on the stocks of domestic metallurgical sector, on the eve exposed serious sales.
The situation on the oil market has also changed for the better. Futures Brent crude trading before the opening of the newly traded above $ 76 a barrel, more than 0,5% higher in relation to the levels of end of trading on Russia"s market. Volatility in the oil market will remain high, so on reaching the shares of oil and gas industry local levels of resistance would recommend to reduce positions. At the opening of the domestic securities "oil industry", which mostly closed near the high-power levels of supports, otskochat up.
U.S. index futures traded in the black. Futures on the SP 500 index kept the level of support on the eve of 1130 points, which allows you to count on a technical rebound and on domestic sites. Resistance on the MICEX index during the current session will address the level of 1480 points.