The Russian stock market on Monday, the evening went negative

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The Russian stock market on Monday, the evening went negative. It’s not even a correction, and so, easy fix and try to gain a foothold in the new historical highs. Index Mosuri on the first trading day of October touched a new peak at the level of 2493 points, but later fell back to a more familiar region 2460-2470 points. During the rally, which started on 7 September, the market slid down just three times, all three visits correction was ineffective.
Index Mosberg can go up to 2500 points as an important psychological purpose if external background will remain calm. The RTS index can quite a long time to balance in the wide corridor of 1150-1200 points.
Action “System” on Monday recovered in the area of the September peak. Paper has gone up to 9,125 RUB on the trading volume above average, now, the market may try to fix approximately 9,050-9,075 RUB, in order to later return to the promotion.
Paper MTS today rose half a percent, but technically remain sideways with borders 269-279 RUB in order to try to break the upper boundary of the range, we need to effectively overcome resistance at 275 RUB, today’s paper there is not reached. Corporate background is in favor of increasing: today the shareholders of the company approved payment of dividends for the first half of this year.
The ruble slightly retreats to a basket of currencies, even against the backdrop of rather expensive oil, but it’s band oscillations with a small amplitude. The U.S. dollar is still below 66,0 RUB, and it is likely that in the short term, it will be fixed in the range of 65-66 RUB the Nearest support is at level 65,10 RUB resistance are at 65,85 and 66,15 RUB RUB EUR/RUB is stable in the range of 76.00-76,95 RUB.
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Anna Bodrova,
Senior analyst,
Alpari