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The WIG Index rallied and finished just below January low. Technically speaking this should be very strong resistance. Looking at the US high close, we maybe we will be able to cross this line. Also the volume was very high today.

This move is surprisingly strong, but I'm still out of stock market. Many investors are wondering if the primary downtrend is finally over, but I'm confused. Like Brian Shannon from AlphaTrends said in one of his analysys - now the market is guilty unless proven innocent. I'm personally waiting for crossing the Fibo 61.8%.



The WIG20 Index looks even more bullish, we have already crossed the January low. The WIG20 Index is climbing to Fibo 61.8% (ca. 2805), nevertheless this index can be slightly 'adjusted' by big players, so I'm considering WIG Index as main target of analysis.



As for interesting stuff - investing in Russia can be still dangerous. Few worlds from Vladimir Putin crashed Mechel (rus. Мечел), one of Russia’s leading mining and metallurgical companies. Please check the sources section for full article in FinancialTimes.

Sources:
[http://www.ft.com/cms/s/0/88f6033e-5d94-11dd-8129-000077b07658.html]