At the start of bidding Russian indices may continue to rebound inertia generated closer to the day before the closing session

Written by admin on June 25th, 2009

Medium-term investors are waiting for a regular shopping

the eve of the Russian stock market lived their lives and at a neutral external background rained down, ignoring any positive signals from the external site in the first half of the session. Sale took place on good volumes, so speculative that Dam does not call. In my opinion, in the absence of further signals for the growth of medium-term investors prefer fixed income, waiting for another moment to enter.

During yesterday's session, indices went below critical levels of support in the region of 1000 points. RTS Index at the opening left by the bottom of the medium-term ascending channel, formed in March 2009, adjusted from the maximum levels of the year at 17.04%. Technically, the medium-term potential of the movement seen on the RTS to the 200-day moving, which can be a point for the opening of the medium-term position, subject to moderate - a positive signal to external sites. Index MICEX during yesterday's session of the rapidly falling to the bottom border of the ascending channel (960 points), formed earlier this year, stayed at the level of support in the region of 980 points, which, against the backdrop of positive signals from external sites, closer to the closing session rebound occurred. At the end of the day on the MICEX was closed 16.75% lower than the highs of 2009. Technically, the potential short-and medium-term downward movement continues. When the lower limit of Perforation downstream end, the channel will become a rising 200-day moving in the vicinity of 820 points - there are about 20% downward correction. In my opinion, this level can also be a point of entry for the medium-term investors and large funds.

Following the closure of our situation on the external sites are not significantly changed. SP 500 index continued its consolidation in the region of 920 points, do not attempt to test the resistance in the region of 930 points. Given the previous few days, reducing this factor is quite low, confirming the lack of willingness to purchase. Oil attempted to march toward $ 71.5 per barrel for Brent, but before the opening session, held above $ 71 a barrel.

The opening of the market lies in the area of yesterday's closing levels. At the start of the trading indices may continue to rebound inertia generated closer to the day before the closing session. The nearest resistance is once again on the MICEX border-term 38.2% Fibonacci correction of 1055 points in the area. Macroeconomic background quite calm out important data is necessary to note the number of unemployed in the United States, which will be published closer to the final bid. At neutral external background there is an attempt to hike down, as the weak U.S. indices had no serious shopping during the Friday session, and permission to open a short - too much temptation for speculators.

According to the results of yesterday's session, the major U.S. indexes for the first time this week shut down in the black. Before you start bidding was published good macro-economic statistics on the number of applications for unemployment benefits, which was significantly reduced. In addition, the Federal Reserve Bank of Philadelphia reported that business activity in the region in June was the highest since September last year, and the index of leading indicators rose in May, the second month in succession to 1.2% (the largest increase since March 2004). During the session, shares look good financial sector is among the outsiders in the previous trading days.

In the evening session on FORTS most of the contracts on stocks neftyanki gaining in value. It looked like a contract for the shares of Lukoil (1.54%). A futures contract on shares of Gazprom gained 1.15%. At the opening of the paper can enter the oil and gas sector in the list of favorites, otygryvaya evening rise in the cost of black gold, after which the ride may commit the speculative profit, and with the opening of the medium-term positions do not hurry.

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Analyst Ratings


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The forecasts of analysts: Today, on the Russian stock market is expected neutral dynamics quotations, players will be active low
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Wide outset with the borders of 850-1100 points on the MICEX index seems more likely
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The upper limit of intraday fluctuations in today could be 1030-1040 points on the MICEX index

 

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