I usually try to avoid emerging markets, but this chart caught my attention. The last few months have been very difficult for the Russian market, and the news basically only helped to fall even further. However, I think that in 5-7 months or so, there is potential for pullback up to 1700-1900 (if no new sanctions are introduced). On the chart, we see an ascending channel with potential support at 1400-1500 (as well as the downtrend that has been going on since December). So I advise you to trade as carefully as possible, because it's not yet clear what trend will continue. The idea itself is risky, but I think the risk-to-profit is good enough to make a trade. I will buy futures on the RTS index, so the targets will be for RTS INDEX FUTURES (ticker: RI). Buy @ 145000-150000, TP 170500-190000, SL 140500.
Trade active
Got filled @ 150000 x5 contractsTrade active
Bought another 5 contracts @ 145000Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.