Tuesday on Russia”s stock market will start with the “gap” up in the course of which will be overcome mark in 1420 items on MICEX
Mar 17th, 2010 | By admin | Category: News and CommentsDespite the slight loss of index MICEX (-0.17%), the results of the first trading session of the week can be assessed as positive.
sure it opened lower, the market managed to find support at 1400 points on the MICEX index, and then jumped to 1410-1415 items. Then an attempt was made to resume the sale, which ended around 1395 points. Formed a bottom after 15.00 Moscow time MICEX resumed growth, reaching up to the day the district in 1420 points.
U.S. stock indices closed higher Monday assured. Much better than the market traded oil and gas sector, which today probably would support Russia"s stock market. Strong results tend to explain commodity price increases in oil futures, as well as a positive report Exxon Mobil.
during the Asian trading session maintained the predominance of buyers. The focus of investors in commodity prices, positive data on U.S. industry. The index of business activity in the U.S. manufacturing sector for January reached 58.4 points, weather - 55 points.
Futures Brent oil in the moment is moving in the area of $ 73.5. The next target is the rebound in the region of $ 75. Some negative brings the release of $ 74.5, which can be regarded as a knock-out stops on the "shorts". In this case it is possible the resumption of sales from current levels.
Futures on SP 500 this morning traded at around 1,085 points. The nearest resistance levels are located at 1090, 1110, 1120 points. While expecting continued growth with the aim of improving the range of 1080-1110 points.
Tuesday on Russia"s stock market expected to begin with a gap up in the course of which will be resolved at the level of 1420 points. Inside of the day looking forward to the achievement of 1430-1450 points on the MICEX index, which we recommend to reducethe "long" positions, or try the game for a fall.
Closure of the day above 1,430 points will create preconditions for continued growth with a possible target in the 1500 points on the MICEX.
In a reversal of the uptrend would be ideal is now back below 1,420 points on the MICEX index.
Futures on the RTS index closed the evening session in the region of 149 000 points. At the opening vtornika can roll back to 148 000-148 500 points. Then expect to continue purchases with the objectives of 150 000-151 000-153 000 points.
Within days a significant impact on the market may have a statement by Paul Volcker, Timothy Geithner at 18.00 Moscow time, the publication of data on uncompleted transaction for the sale of housing for November (18.00 Moscow time).
positive external background. America to close higher, oil and gas sector is much better than the market, the financial sector at the market. Asia traded mostly up.
The final recommendations:
Investors - cut position ";
speculators - "to play the fall of 1430-1450 points on the MICEX index".
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