Russian Equities Could Go from Ugly to Hideous

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Back when the RSX was at about $27, I pointed out on my TastyTrade segment how alluring that descending trendline was with respect to the Russian equity ETF symbol RSX. The price seemed to have a lot of respect for that line and, sure enough, the stock has been slipping lower ever since. It seems a trip down to about $21-$22 (recent support) seems altogether possible although, frankly, the triangle pattern formed by these two lines clearly shows a failure of the aforementioned support would turn the Russian equity market into a giant vat of spoiled borscht.