What do all of these have in common?
First of all, take a look at the monthly comparison chart below of Brent Crude Oil, Russia's RTSI Index, and Germany's DAX Index.
From around April 2015, these three have traded virtually lockstep, with varying degrees of strength on their upward push from around April 2020.
While the DAX has rallied to new all-time highs, the RTSI is trading around major (long-term) resistance, and Brent is approaching major (long-term) resistance around 80.00.
The Balance of Power (BOP) (pertaining to Brent) is nearing its all-time historical high, as the buyers are currently in control.
We may see a final spike upwards in Brent towards 80.00, dragging the RTSI and DAX Indices along with it, before they all, either take a pause and consolidate, or pull back.
However, look for a possible deviation during such a spike by either or both the RTSI and DAX, potentially signalling that buying is weakening in Brent.
Keep an eye on the Brent BOP to confirm either scenario.