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Friday, September 08, 2017

Russia Index Poised for Breakout

Russia is the big gainer, so far, today, as shown on the following Heat Map of the World Stock Markets.


The Russian Index has broken above its long-term apex around 1080, but is still below its downtrend line, as shown on the Monthly chart below...we'll see if it holds in the days/weeks ahead.

The momentum and rate of change indicators are still depressed, so I'd need to see a new swing high made above the highs of 2016 on a trendline breakout to confirm any sustained rally, especially above major resistance at 1200.