Russian bulls are able to keep the market a long time now

Written by admin on July 2nd, 2009

Today we have a chance to witness the birth of a new bovine trend, or to see how to draw a new reference point bear trend, which dominates in the Russian stock market sites from the end of May 2009. Dealer to find out whether quotes blue chips and popular papers to confirm yesterday's breakdown of short-term descending trend.

In fact, the forthcoming session of the trade can provide answers to many questions. Can the MICEX index 1000 points to defend the mark? Be able to whether shares of Gazprom hold over 165 rubles a mark, and thus get a chance to increase at least in the area of 170 rubles? Are stocks riseLukoil with the attraction of 1420/1415 rubles. Will the paper Sberbank the strength to no longer fall for the strategic level of 38 rubles?

Despite the technical prerequisites for continuing growth in the Russian market, we believe that the local bulls are weak and fail to retain the market long. Intuitively, we assume that yesterday's breakdown was a false signal levels. Therefore did not hurry to open long positions.

However, even with that, the players to increase the win, the speculators will have more than one opportunity to join the movement. Although the holes would retest the levels of resistance quotes must implement. As the trends that are Pokus shares have been top-down, in case retesta we will see prices below yesterday's peak at least 1,5-2%.

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