Market Update – Russia
Russia's ( RSX , quote ) Risk/Reward in your favor near the 1250 level on the MICEX.
Russia thrashing around and can be owned on next move lower if not before as long as index holds 1250.
More likely test would be 1300 after the thrust lower in mid-June.
Russian steel, metals, oil companies bombed out and have digested China slowdown/global demand destruction news and are now under owned.