Russia Index Poised for Breakout

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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.

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