The RGBI index still has room for falling!
Technically. Immediate support on the monthly timeframe is in the 134.85-131.60 zone. The long-term uptrend has been broken. You need to be patient and wait for the exodus of investors from this asset to stop and the cycle of accumulation begins.
Fundamental. By the end of October, annual inflation is expected in the range of 8-8.2%. If prices continue to grow at this rate and further, in November inflation will already be 8.6%
The key rate of the Central Bank of the Russian Federation is now 7.5%, which is significantly lower than inflation. It is likely that at the next meeting it will be raised not even by 50 basis points, but by 75-100. The fall in the RGBI index may continue by another 10 percent or more. We wait!
Fundamental. By the end of October, annual inflation is expected in the range of 8-8.2%. If prices continue to grow at this rate and further, in November inflation will already be 8.6%
The key rate of the Central Bank of the Russian Federation is now 7.5%, which is significantly lower than inflation. It is likely that at the next meeting it will be raised not even by 50 basis points, but by 75-100. The fall in the RGBI index may continue by another 10 percent or more. We wait!