April 25, 2024

Economic digest 10/06/2019

The dollar/ruble pair changed little last week and closed at 64.615. Medium term couple, rathertotal, completed wave C of wave 2 finaldiagonal triangle with 86, which is flat (marking here), and is already in wave 3. Long-term marking options are here. The net long speculative position in ruble futures increased by 1,700, from 24,600 to 26,300.  The RTS Index fell and closed at 1311.65 (long-term marking here, medium-term marking here). The Russian Government Bond Index (RGBI-tr) rose to close at 541.61. Listen to more details in the “results of the week.”

World markets

Oilimplemented the “inverted head andshoulders,” and went into correction. When this correction ends (has ended) will depend on where exactly the KDT ended, which was the last wave in the movement from 42.05 (marking here), there are still options (see here). At the moment, flat (more details here) is no longer the most likely option; it is not yet possible to single out one. The net volume of long speculative positions fell by 34,900 last week, from 424,200 to 389,300. The number of active towers in the US fell from 713 to 710. The week closed WTI - 53.01, Brent - 58.37. At the end of Thursday, the number of bulls in the market was 32%.

Euro / dollar(EUR/USD) completed wave C of a flat correction withMarch 2015 (the marking can be viewed here, the dollar index – here), respectively, wave X in the long-term marking, since the level of 1.21545 was broken (previously this signal was given by the dollar index, breaking the corresponding level), and is moving towards parity. Now the pair is in the fifth wave of this movement. Weekly close: 1.09775. At the end of Thursday, the number of bulls in the market stood at 23%.

Futures on the S&P indexWhat is the latest wave of growth, sayIt’s still difficult, most likely this is part of a corrective pattern (triangle or flat). Closing the week - 2950.75. At the end of Thursday, the number of bulls in the market stood at 41%.

Goldis in wave B in a circle in the long-termmarkings. The metal broke through 1366.08, therefore its wave B (or X) was a triangle, and it is already moving in wave C (medium-term markings here). Weekly close: 1504.58. At the end of Thursday, the number of bulls in the market stood at 47%.

Bitcoin, most likely, is in wave 4 of the impulse from the December lows, so, most likely, after its end, the most popular cryptocurrency will rise in the fifth wave, which will complete it.

RUH666 (ancestor of Rüchism)