From the most active market participants in Russia retains the behavior of oil prices and increased volatility of exchange rates

by admin on February 28th, 2010

Perspective: believe that the immediate support of the MICEX index was held today at the level of 1394 on, the resistance - at 1425 n.

Federal Reserve calmed investors, promising to hold the discount rate at the same level and continue with the purchase of assets. Thus, roughly until the next meeting (16 March), the speculators have the opportunity to continue the previous game.

At Russia”s stock market continues second day of a technical rebound. MICEX yesterday played the first corrective technical mastery levels. Both exchange rate index - the RTS and MSCI-Ru - back to the barrier medium moving average МА60. Yesterday”s trading volume on the MICEX index (57 billion rubles.) Did not disappoint, but not pleased. Short-term players are trying to restore the position, but, apparently, the pool of traders remains the same. This is alarming.

from greater activity in our market participants holding the behavior of oil prices that still remain under downward pressure from the January trend and increased volatility of exchange rates, reinforced by the weakness of European currencies. Troublemaker remains Greece, which yesterday seriously alarmed investors. Credit spreads CDS (5Y) during the day rose from 376 to 422 n. Investors fear that followed followed by Greece and other European countries. This continues to put pressure on the euro and the rebound effect on reducing the dollar prices of raw assets.

On the U.S. market until the uncertainty remains and a temporary balance of power between bulls and bears. Indicator of net trade positions of the weekly index SP500 (OBV-5) during the last week poised near the zero mark (Fig. 1). Today the central news of the day will report on the growth of U.S. GDP in the 4 th quarter. Expected to increase by 4,6%. Perhaps the publication of these data will enable investors to determine the choice of further motion vector. In general, quarterly reports of U.S. companies exceed the expectations of the expert community. If the glow of Greek passions subside, pending positive factor was supposed to push the U.S. indexes upward.

immediate support on the MICEX index was held today at the level of 1394 on, the resistance - at 1425 n.

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On the paper “Savings Bank” is an important support level of 85 rubles per share, below which will decrease the signal to an active sales
Perhaps, over time the relationship between the dollar and oil will begin to weaken
It is possible that today many of Russia”s paper on the results of the auctions will be able to close in positive territory
In the near future is expected to continue strengthening dollar and lower oil and the continuation of Russia”s market correction

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