Reporting Alcoa will determine the trend of tomorrow's auction at the Russian sites

Written by admin on July 8th, 2009

Trading on Russian stock market on Wednesday held in a negative way, which mainly contributed to the situation in foreign markets, which also provoked a sharp decline of the domestic currency against the dollar. Opening, as expected, was to break down, resulting in the MICEX index hit on the level of support in the region of 900 points, followed by cannon, is a positive influence on the index futures added U.S. and cannon up quotations oil. Published macroeconomic statistics for the euro area GDP coincided with predictions: the data were positive for Germany, where industrial production grew by 3.7% with projections of growth on 0,5%. As a result, the MICEX reached a daily maximum, and then again adjusted.

Until the end of trading session, the dynamics will be quite volatile, so I recommend to stay away from the market until the release of oil and petroleum products in the United States. According to the American Petroleum Institute (API), the growth stocks of gasoline in the United States last week reached 767 thousand barrels to 212.4 million barrels, which would mean an increase of gasoline stocks the third week in succession and will be negatively perceived by investors. In the case of sharply - the negative statistics suggest a reduction of position, since the prospects for tomorrow's session is uncertain.

According to the intraday dynamics of futures for U.S. indices, and the nervousness is present on American sites, because of the expectation of reporting Alcoa, which should be published after the closing auction in the United States. It is projected that for the II quarter loss would be 0.38 cents per share, so even after the finish trading session in the States the situation could change dramatically. So the basic guide to start tomorrow will be futures on U.S. indices. From the perspective of tomorrow will be interesting traditional data applications for unemployment benefits, as well as data on wholesale inventories in the United States.

Technically, the MICEX index continues to move in short-term descending channel, formed in June 2009, the lower limit of which is in the region of 880 points, in the case of negative tomorrow could be a powerful support. The nearest resistance is a strong level of 960 points. Volumes in the current bid is lower than in recent trading sessions, demonstrating the benefit of speculators, as the main medium-term investors are already out there.

Shares of Russian oil and gas sector are falling. The reduction is defined primarily technical potential corrective movement down. Slightly better looking stock Lukoil, are consolidated in the region of 200-day moving for the past three trading sessions. Shares of Gazprom head the list of outsiders, rapidly decreases to a level of 200-lnevnoy sliding, located in the vicinity of 135 rubles., Which I recommend to build positions in the purchase. Support for the shares of Rosneft made a standard in the area of 38,2%-term correction of Fibonacci. For the majority of shares neftyanki not closed gepy that allows you to count on strong technical rebound, which may strengthen the positive statistics, however, recommend use it for speculative purposes.

Shares of banking sector in the absence of the ideas demonstrated obscherynochnuyu dynamics. Despite attractive rates for purchases, I recommend to stay away from the medium-term purchases of securities of banks. Speculators is to draw attention to the banks in anticipation of the season, reporting of financial structures, which will open next week at Goldman Sachs.

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