Correction on external sites allowed Russia”s market to grow

Today, trading on the Russian sites have opened lower quotations. Market”d play last Friday”s decline of U.S. markets and oil prices, but after the negative opening of European markets and the ensuing recovery, Russia bulls attempted to deploy our quotes, resulting in the MICEX index was able to get into positive territory. As leaders of growth Sberbank and OGK-5, then adds more than 2%. On the negative territory traded Norilsk Nickel (-1.8%) and Mosenergo (-1.5%). By 13.45 MICEX index added 0,6%, reaching a level of 1419.2 points.

general sentiment before the opening of Russia”s market was negative, and this could take the Bears, but to overcome the Friday lows and failed. The level of 1400 points, once again survived. Incipient recovery, which contributes to an attempt to reach European markets in the plus and the overcoming Brent futures on the level of $ 73 has removed Russia”s indexes into positive territory. Now MICEX index attempts to overcome short-term downtrend, which originates from the maxima of the year. In the event that a bull will turn up on the trend, from a technical point of view, we can expect the end of the market correction and attempts to start a new wave of growth. Today the market dynamics could affect sales data on the secondary housing market, the U.S. (Existing Home Sales, expected 5.9 million, the previous value of 6,54 million) for December. If the data will be better than expected, it will allow the market to continue its upward movement.

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