RTSI Update

My interpretation is that the Russian Stock market has restarted its descend to new lows. Lots of people feel relieved and optimistic today argueing that the market will continue going up despite geopolitics. I looked at the recent advance (propelled by abrupt ruble strengthening) as a bounce. As technically the count has not been completed and there was no divergence on RSI.

If some form of embargo is a trigger the market can take a deep dive and stay at lower levels for a while.