In the current week, the stock market showed mixed trends. Beginning week was optimistic with the increase across the spectrum of liquid shares. Before Thursday's paper had in trying to reach new highs. Some blue chips have succeeded, but Thursday and Friday were negative for the market. As a result, we end the week without a strong growth, though as without a serious fall.
Rising oil prices will not have a positive impact on our stock, and this suggests that loss of communication with the main driver of our stock market. The market begins to live his life, paying no attention to what was so important in the first half of this year after the crisis. All this is a signal that may well begin downward movement regardless of the dynamics of commodity markets. However, the potential for growth has not yet been exhausted. We can not exclude the possibility of emergence of another wave up.
To analyze the dynamics of the total market in the medium term on the daily chart of the MICEX Index. The uptrend remains in force, the prices have come off badly from the trend line (red line on the graph). Moreover, during the growth of this week, the index broke abroad inclined channel, ie was accelerated. But to sustain this growth can not, which creates a little dangerous situation to improve.
If the index is not able to maintain higher levels of resistance (upper line of the channel) next week, he can rush to the bottom of the channel. And this will mean a major downward correction. Then there is the chance that the decline will stop at current levels, and the bulls once again take the market under control. In this case we can expect the beginning of the birth of a new wave of growth.
In any case, next week will be clear, as subsequent events will unfold.
At the close of the market leaders in reducing shares VTB (-5,1%) and Sberbank (-3.9%), the leaders raise the privileged and the ordinary shares of Rostelecom (10.3 and 15.3%, respectively).
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