Russian stocks fall amid growing tensions in Russian-Ukrainian relations. Moscow Exchange Index ( MOEX , RUB) is short-term oversold and trying to bounce off support area 2850-2900. There is no divergence on MACD , so we view current decline as a correction, but not reversal.
We expect recovery of MOEX Index by 40-50% within 2-4 months.
Quite a hot topic of conversation today. This has come down into the support levels now. Big decision point. Might have completed the bear move. Much worse if fibs break.
RF . A strong buyback was indicated last week, but there is still no mid term long signal. If everything goes well this week it might show up later this week.
Meantime, the index in the potential strong turning point at 3650 which we'll touch this week I suppose. The second week may turn down with a local dip of the month around Feb 9-14. Let's check.
For sure,...
Where the price can go. The LSPE index price has risen 66% in 18 months since the covid collapse. It is likely that We will see 4800 in the index this year or early next 2022. What then?
We have an ascending structure past our Previous high. There is no telling how long it will last but what we are waiting on is an impulse down plus HTF continuation correction. Then a LTF correction for the entry for further impulse down.
All eyes on 14-cci rollup. I'll be looking for entries on 5m if i see strength.
If a roll-up doesn't happen or will not have follow-through, then the market it weak.
