The Russian market in the near future will continue to move in the corridor 1100 - 1160 points on the MICEX index

Written by admin on June 15th, 2009

Oil below U.S. indexes on the same level

We expect a negative opening on the Russian sites the reduction of oil prices.

On Thursday, before the long weekend the Russian market drift below 1140 on the MICEX index. Players do not take action under the assumption that the oil market on Friday and the western area can give to an unpleasant surprise on Monday.

Fears players partially true. And if the U.S. court remained approximately the same levels, that is in the oil market on Friday took corrective wave, which increases the cost of oil brand Brent below $ 71 /barrel.

As a result, on this background, we expect reduction in the Russian market against the backdrop of lower oil prices. But the market is likely in the near future will continue to move in the corridor 1100 - 1160. In the absence of certainty in the stock of external sites and markets for raw materials, as well as their own ideas, the market continues to consolidate in the corridor. In this situation, we recommend that players refrain from action until the market from the current consolidation.

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