Fomenka

RTS educational case

MOEX:RI1!   RTS Index Futures
All right, our contest continues. The price did break up to the upside from the triangle and Andrey's bullish case (the brick one) seems confirmed. I am carrying the loss on the trade and continue seeking out bearish interpretations (white or grey labels). And you know what? It is almost always possible to twist a chart in both ways.

What I did change is that I have simplifeid the count quite a bit and am now looking at even more bearish scenario (grey labels) that says that big move can come within the next 48 hours with wave (3) of c (circle).

To be clear. The market looks bullish, the triangle looks very bullish, oil is going up like crazy (I am long oil and long offshore driller RIG). The broader market (US) is also bullish. If no big geopolitical events the Russian market should go up as well. However, I smell bear in a bush and I cannot really explain why. Maybe because the previous advance does not look like a motive wave to me.

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