Growth of the Chinese index may encourage Russia investors

Written by admin on September 3rd, 2009

On the eve of Russia's stock market showed another volatile session, which resulted in the MICEX index closed in negative territory, which mainly contributed to lower quotations of oil, as well as the negative macroeconomic statistics on the U.S. economy. After our closing situation on external sites slightly deteriorated. U.S. indexes since we could not resist closing in positive territory and went into negative territory, skorrektirvovavshis the levels at which Russia's market was closed for half a percentage point, in turn, S P500 gone from resistance 1000 points, while maintaining the technical capacity reduction. Oil continued to take positions, despite the good statistics on stocks of petroleum and petroleum products, the pressure on the quotes provided stability of the dollar and the negative statistics on the labor market, published yesterday. Futures on the U.S. indices, despite a positive morning, traded below the levels at which Russia's stock market closed.

neutralize the negative traditional benchmarks may increase the index on the Chinese media that China's aluminum consumption will increase by 4% this year, while earlier predicted zero growth since the first seven months of imports of aluminum has increased by 2 times. Danae news support quotes metals in today's session, which in turn positively affect the quotation of shares of the metallurgical sector, which were significantly resold during yesterday's session. Technically, shares of Russia's metallurgical sector have not kept on the eve of the powerful levels of support that can make the resistance during today's session, so cut position on the shares of Severstal is the level of 21-dnevnyo moving average around 220 rubles. By MMC Norilsk Nickel the level of 3360 rubles.

Given the setof external signals the opening of the market to see neutral. Further dynamics will be determined by the situation on foreign markets, in the case of positive market may dominate purchase. Reduce positions in shares worth before the publication of data on the euro area, namely, before the data on retail sales. Outcome of the meeting of the ECB and Trichet's comments traditional, increase volatility in the currency and commodity markets. On the outcome of the day will be the impact on the statistics of the U.S., but considering tomorrow's report on the labor market would recommend to reduce positions on shares in the event of a positive.

Technically, at the start of trading session, the MICEX Index closing levels near the open environment, and then can test the resistance in the immediate area 61,8%-term correction of Fibonacci of the maximum annual level (1085 points). The main corridor of traffic on the MICEX to see within the 1075-1090 points.

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The stock market of Russia took a pause in the fall at around 1080 points on the MICEX index to statistics from the U.S.
Morning today, neutral background, is expected to open near yesterday's closing levels on the MICEX
Given the two-day drop in markets today can Technical rebound up
The worst of the market today can look shares metallurgical sector, better market - paper banks

 

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