Market is back in the downstream channel

Trading on the Russian sites have opened decrease quotations. External background in the form of lower oil futures quotes and American indexes are not allowed bulls to continue yesterday's growth. Down the corridor between the levels of 990 - 1000 points on the MICEX index, where he spent the middle of the day, the market moved sideways movement in anticipation of labor market from abroad. Statistics disappointed investors. Reducing the number of jobs in non-agricultural sectors was 467 thousand, which was at 100 thousand more than the expected level. As a result, the market swept a new wave of reductions. No more moderate, on the expected level, the increase in unemployment, which amounted to 9.5% or an increase in the number of industrial jobs, have been unable to halt the decline. Closer to our closing on the background correction at American sites and the energy market, the MICEX index was able to deviate from the values of the day. The leaders began to reduce paper Gazprom and Tatneft, which lost 4.99% and 4.45% respectively. Better the market closed, the paper Mosenergo, the decline by approximately 0.1%. At the end of the trading the MICEX index lost 3.5%, ending the day at 977.09 points.

Today was a mirror image of yesterday's speakers, but instead we have seen growth decline in prices. One must admit that the market was unable to hold above the upper border of the downstream channel, thereby confirming yesterday's breakdown of the line. If the ambient background does not get worse tomorrow bulls will attempt to retry the puncture, but in light of the negative data might force from them will not be enough, and soon we will see continued movement of the index in descending channel. This will lead him to support at 935 on the MICEX index, where the first opportunity for consolidation and then growth.

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