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Sunday, 23 September 2012

Russia RTS Standard Index: 23 September 2012, Sunday, 9.55pm

Russia RTS Standard Index: 23 September 2012, Sunday, 9.55pm

Attached is the Russia RTS Standard Index. 
The chart above speaks a thousand words; currently Russia RTS is still entrenched within an initial Bear Market Characteristics. Bearish Fan, Bearish Volumes in Russia (member of BRICs) and Bearish Technicals. 

Only a break-up above the lowest frame of the Fan (Black Line Support-turned-Resistance) and the powerful RED resistance band at 10468-11229 points will negate the bearish distributional structure.

A break down below 8367 points will immediately bring about a heavy sell-down and double-confirm the bear market.

Anywhere between 8367-11229 is a consolidation.

Based on structures, RTS (Russian Stock Market) and Russian Ruble currency is in an early stage of Bear Market.

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