Market Analysis

negative signals from the market of raw materials to arouse the "bears"

On the eve of a fairly stable external background on Russia"s stock markets have been buying, resulting in the MICEX index updated yearly highs, closing the session at the maximum daily values. Before the opening of trading on domestic platforms external signals are moderately negative, so the opening of Russia"s stock market may be dominated by negative sentiment. London Brent after the end of trading on domestic platforms changed direction as a result of new futures traded below $ 77 a barrel, down breakout which could increase the negative sentiment in the contests of "oil industry" during the session. The situation on the currency market can support the commodity markets. So before opening the EUR /USD pair grows slightly, but to change the mood in the pair can and macroeconomic statistics, namely the index of economic sentiment eurozone. In general, I recommend forming speculative positions on the shares to reach the local levels of support.

Wave of profit-taking at the start of the trading day will also contribute to negative futures for U.S. indices. The situation in the Asian areas, where there are multidirectional mood does not give clear signals before the start of the trading day.

outsiders session in Asia, are shares of the banking sector, the pressure on that still has a negative record of JP Morgan, which may have a slight pressure on the stock quotes Russian banks. In general, the morning after the correction in shares of Russian banks, which together with metallurgists look quite good, can form a wave of buying in anticipation of reporting Citigroup, which will be published before the start of trading in the United States.

Technical factors, namely the proximity of the MICEX Index to strong resistance level, lying at the upper boundary of the medium-term rising channel (1490 points), also contribute to the correction at the start of the trading day. The closest support level, which should form a position on the shares, lies at the level of 1440 points on the MICEX.

Favorites yesterday"s session, shares of metallurgists are now able to trade mostly sideways waiting for signals from China, which will go to the markets of tomorrow. In the absence of ideas in the shares, which are engine of growth since the beginning of the year, demand may now use the traditional tools for remedial sessions, namely, gold shares, which provides additional support and growth of gold futures before the start of the trading day.

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