MICEX index: The nearest resistance at 1020 points

MICEX index continues to rise, which was initiated from the local minima at 852 points. Having overcome the level of 935 and a 200-hour exponential moving average, the index continued its upward momentum. Corrective movement downwards, which started from the level of 1020, was stopped a short-term top-down trend, which lend support to the index, enabled him to resume the upward movement, resulting in a level of 1020 samples. In case of continued growth, resistance index levels of 1090 will and 1160. The support he can expect from the short-term ascending trendline, 200 hours of EMA and the level of 1020. In the previous survey, we advised the players to increase the position in case of breakdown of 1020 with the transfer of foot under the level of 1000 points on the MICEX index. In the current situation, we recommend that players continue to increase the position and stand at 970 feet.

unsecured gepy: 788.

Levels of support: 1020, 935, 870, 790, 705, 640.

Resistance Levels: 1090, 1160, 1260, 1350;

Recommendation: make the stop at 970.

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