Russian Equities Could Go From Ugly To Hideous

Published 08/06/2014, 11:15 AM
Updated 07/09/2023, 06:31 AM
RSX
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Back when the MarketVectors TR Russia (NYSE: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. 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 that a failure of the aforementioned support would turn the Russian equity market into a giant vat of spoiled borscht.

MarketVectors TR Russia

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