The Russian index has completed a three-wave structure down, ended with an ending diagonal, so there is no reason to expect further decline at least for some time. The momentum of a smaller C was lower than A, both are approximately equal. The structure looks complete.
I suspect that despite all the political pressure and currently very low oil prices the pessimism is too extreme, and so a bounce to discharge it is very likely.
If Russia is going to bounce, then Crude will go up as well. This looks like a rather perverse causality, but I'd like to give it a try.
I suspect that despite all the political pressure and currently very low oil prices the pessimism is too extreme, and so a bounce to discharge it is very likely.
If Russia is going to bounce, then Crude will go up as well. This looks like a rather perverse causality, but I'd like to give it a try.