… haven't been so bearish about markets in a while. Why?
It is sometimes helpful to look a little further than your own nose., therefore, we will build on weekly charts.
Немного слов, quite enough pictures.
Let's start with Europe.
Loved by many DAX. Trades in a rather narrow range, from which it cannot get out in any way. After “hanged man” на прошлой неделе, a bearish engulfing candlestick formed on this one. You will have to try very hard to neutralize the negative..
France. Almost a carbon copy of the Germans, with one “but” Clearly visible “inverted flag”, pattern implementation, may well lead us to the level 3000.
English Footsie 100. Looks a little better. Traded at the resistance, the goal for the hike up is limited. Сформировался свечной pattern “doji”, what is hinting.
The americans.
After explosive growth and it would seem, Inverted GiPa resistance breakdown, hesitant trampling. As a result – “doji”.
Commodities and emerging markets.
Australia. Breaking through the neck line of an inverted GiP, the price was unable to gain a foothold above.
On the day, the negative is seen more clearly. To overcome it, a powerful upward movement is needed in the coming days. Otherwise “ouch”.
Indian market, breaking through the ascending channel, grew steadily within a month, reaching the target zone. As a result, we have a certain similarity “hanged man”. Что происходит при таких значениях RSI на недельных графиках, no need to speak. Correction, possibly to the area 1850.
Brazil looks confident. The price is moving in an upward channel, but on closer examination, we see all the same “inverted flag” and the proximity of a powerful zone of resistance. Nevertheless, growth next week is quite possible here.
I did not give a picture for China – everything is very narrow and vague there, in my opinion. Now back to our rams.
MICEX. The index grows sluggishly within the limits “inverted pennant” Exit in such cases, usually going down, plus formed “hanged”. Divergence by RSI. To improve the situation, a powerful upward throw is required, with fastening. Sberbank alone is clearly not enough for this..
Sber. Arranged for all shorts “Kuzkin's mother” this week. However, the upward movement on it is limited by powerful resistance., and pattern boundaries (again this inverted flag). The only thing, what can make me throw my shorts over it, this is consolidation above the highs of the year.
The monthly chart shows, that the exit can take place as a retest of the absolute maximums, and correction for 65-70, а может и 40, Who knows. Я сильно сомневаюсь, that with a general correction, Sberbank will go higher. That's why, so as not to call RBC with a question:”I bought Sberbank for 90 р., so what's now?!”, I would refrain from shopping now, pending clarification, so to speak :)
I will not write about Gold, there the correction is not just ripe… :) For Eurodollar View here
Oil (Brent). Powerfully shot up, closing above resistance. Seems, from the campaign of 90 nothing holds us back. Only a virtual obstacle remains, as a channel boundary. В Россию, Consequently, send money,(Really, nobody buys something in the oil industry, why, interesting?). Think, next week will clarify a lot.
