Equities: RTS Break Above 1,100 Bodes Well

The benchmark Russian RTS equity index has pushed out of its short-term range, breaking through resistance at 1,100, to at one point trade at 1,114 on September 8. The breach reinforces other positive technical and fundamental signals, and highlights a likely move in the near-term back to 1,200. Indeed, we have been encouraged by the bounce off of trendline support at 1,070 on September 6-7 and both the daily stochastics index and moving average convergence divergence (MACD) continue to suggest further upside. A recent push higher across much of the commodities complex, including precious metals and some base metals, also

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