The stock market has a good chance of rewriting all-time highs

Yesterday’s main trading, the Moscow Exchange Index ended with an increase of almost 0.7%, which can be written into its asset, taking into account the beginning of the decline in the American market in the afternoon.

However, the trading in blue chips was contradictory. If the decline in Gazprom can still be justified by the removal of overbought after the recent strong growth, then the drop in the percentage of Norilsk Nickel on the eve of the cutoff of the register is alarming. It seems that dividends are not particularly needed, as traders do not believe in the quick closure of dividend gaps.

Rosneft looks very weak as it ignores the oil that has risen in price. It is still worth reducing the share of securities in portfolios, but be ready to quickly increase it as soon as a new phase of growth begins.

The external background is developing positive today: American futures on the eve of our opening add a third of a percent. Industrial and precious metals are in positive territory, oil is holding above $ 68.5 per barrel. Therefore, the Moscow Exchange Index has good chances to continue its leisurely movement to the 3700 point mark, which will create a springboard for rewriting historical highs in the future.

However, in the course of trading, including the decline in turnover, it is clear that the potential of the stock “bulls” began to dry up.

Gold went above $ 1,900 an ounce. There is resistance around $ 1920, and there may be some slowdown in growth or even a slight correction. But the uptrend in gold remains in place and we will soon see a metal at $ 2,000. In this regard, it makes sense to continue to rely on the securities of gold mining companies – this is now the safest and most promising asset.

The ruble is appreciating by 0.3%. We saw the same picture yesterday morning, but then the ruble began to lose ground. It is possible that the scenario of Tuesday in the foreign exchange market will repeat itself today.

In general, the foreign exchange market also shows a downward trend in demand for the ruble, which is still supported by the tax period. Now the dollar-ruble pair is only 30 kopecks above the strongest support 73, so the speculative desire to buy the dollar against the ruble will grow.

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