The Russian market has fallen all the last week, following the oil quotations. The figure of double peak in the chart of oil fully implemented, and quotes have gone to the area of $ 60 per barrel, which is a good level for consolidation after a fairly heavy traffic. The next support on the graph is the level of oil 55 dollars a barrel. MICEX index pushed down from its 200MA, and almost reached the support of 860 points. In the case of passage of this level is expected to reduce the MICEX index to the next level of support for 750 points. Futures on the RTS index continues to be a large bekvordatsii on the spot index - about 30 points. This reflects the negative expectations of the players on the prospects for the Russian market.
U.S. indexes last three trading session closed without significant changes. The figure of head-shoulders has not yet been implemented SP 500. Recall that the purpose of implementing this figure is at around 800-830 points on the SP 500 index. In any case, before a reliable breakdown from the neck down, the figure is not considered to be formed, and included in the position before the puncture is not worth it.
The Russian Central Bank on Friday allowed the ruble to fall dramatically and significantly to the euro and especially the dollar. Quotations on the ruble dollar almost reached the level of resistance, formed in the period from mid-March to late April of this year. We do not expect an equally sharp movements in the Russian currency market and allow the continuation of the devaluation of the ruble at a slower pace in the event of lower oil prices a threat to balanceof payments, the Russian Federation.
We remain moderately negative view on the market in the short term, although the potential drop from current levels significantly decreased. We recommend that you monitor the behavior of the MICEX index levels near 860 and 750 points. Also on the world markets will have a significant impact reports of corporations United States for the second quarter.
It is necessary to draw attention to one point - reduction in the Russian market is held at a very low trading volume, which suggests that the major players are not willing to sell their portfolios at current prices.
Of course, this in no way means that Russia will be able to ignore the possible negative on the world market, but we view this as a positive.
We expect low activity in summer. Also, we remain positive expectations for the Russian market in the medium and long term and consider a possible reduction to the levels of support a good chance to replenish their equity portfolios as the second-third tier, and some blue chips.
Index MICEX: Significant levels: support: 860, 740, 600, 500, resistance - 200MA (960), 1100, 1240.
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Kommersant: tranche consonants
After a morning of correction up Russian indices traded differently
The immediate objective rebound up futures on RTS index is located in the vicinity of 80 000 items
At the beginning of the new dynamics of the week quotations of petroleum continues to be downward, the losses amount to approximately 0.7%
In the coming weeks, the ruble has stabilized
The Russian market can turn quickly, rather than continue down
IBRD net income for 2008 under IFRS amounted to 107 million rubles
VTB will pay dividends on the results of 2008 of $ 0.000447 ruble per share
Review of the FOREX market for 10.07.09
Positive expectations for the Russian market in the medium and long-term stored
 The Russian market has fallen all the last week, following the oil quotations. The figure of double peak in the chart of oil fully implemented, and quotes have gone to the area of $ 60 per barrel, which is a good level for consolidation after a fairly heavy traffic. The next support on the graph is the level of oil 55 dollars a barrel. MICEX index pushed down from its 200MA, and almost reached the support of 860 points. In the case of passage of this level is expected to reduce the MICEX index to the next level of support for 750 points. Futures on the RTS index continues to be a large bekvordatsii on the spot index - about 30 points. This reflects the negative expectations of the players on the prospects for the Russian market.
U.S. indexes last three trading session closed without significant changes. The figure of head-shoulders has not yet been implemented SP 500. Recall that the purpose of implementing this figure is at around 800-830 points on the SP 500 index. In any case, before a reliable breakdown from the neck down, the figure is not considered to be formed, and included in the position before the puncture is not worth it.
The Russian Central Bank on Friday allowed the ruble to fall dramatically and significantly to the euro and especially the dollar. Quotations on the ruble dollar almost reached the level of resistance, formed in the period from mid-March to late April of this year. We do not expect an equally sharp movements in the Russian currency market and allow the continuation of the devaluation of the ruble at a slower pace in the event of lower oil prices a threat to balanceof payments, the Russian Federation.
We remain moderately negative view on the market in the short term, although the potential drop from current levels significantly decreased. We recommend that you monitor the behavior of the MICEX index levels near 860 and 750 points. Also on the world markets will have a significant impact reports of corporations United States for the second quarter.
It is necessary to draw attention to one point - reduction in the Russian market is held at a very low trading volume, which suggests that the major players are not willing to sell their portfolios at current prices.
Of course, this in no way means that Russia will be able to ignore the possible negative on the world market, but we view this as a positive.
We expect low activity in summer. Also, we remain positive expectations for the Russian market in the medium and long term and consider a possible reduction to the levels of support a good chance to replenish their equity portfolios as the second-third tier, and some blue chips.
Index MICEX: Significant levels: support: 860, 740, 600, 500, resistance - 200MA (960), 1100, 1240.
3 users rated material at 3,7.
Analyst Ratings
Kommersant: tranche consonants
After a morning of correction up Russian indices traded differently
The immediate objective rebound up futures on RTS index is located in the vicinity of 80 000 items
At the beginning of the new dynamics of the week quotations of petroleum continues to be downward, the losses amount to approximately 0.7%
In the coming weeks, the ruble has stabilized
The Russian market can turn quickly, rather than continue down
IBRD net income for 2008 under IFRS amounted to 107 million rubles
VTB will pay dividends on the results of 2008 of $ 0.000447 ruble per share
Review of the FOREX market for 10.07.09