Rusian MICEX index, measured in US dollars is on risk of another severe breakdown.
Price is now currently trading at a key level - converged lower 1st standard deviations from 1-year and quarterly means (@ 24.75)
If the level is taken out, price will be open to fall to its relevant lows @ 23
and If those are broken down, next target would be 18.5 - the 2014...
MICEX measured in USD prices (MICEX index divided by USDRUB) has held its 5-year (60-month) downtrend test in May 2015 amid expanding volatility.
On technical basis alone, if the price holds below the 1st standard deviation from the 5-year mean (now at 32.42), chances are it will retest 2009 lows (at 16.35) - which is a 50% fall in value.
What makes this...
