The Russian currency is at critical point here technically while just things just happen to be heating up domestically for Putin.
Opposition figure Navalny starting to get a lot of press after Kremlin media blurred the face of his attacker this weekend sending the message that government will protect those that attack anyone opposing Putin in upcoming election (those that aren’t already dead, jailed exiled that is). Fresh from jail and court proceedings (again) Navalny last month rallied hundreds of thousands nationwide to anti-corruption protests and with larger versions planned in a couple weeks Putin will probably stand by his old methods and launch another invasion, false flag terror attack or whatever it takes to keep his domestic audience’s eye off the ball. A much weaker (up-move on the chart below) Ruble would surely be the result in these events.
The fact that before this latest visit to resistance we couldn’t make it to the previous floor increases the probability that this downtrend breaks. Breaking this resistance and subsequently finding support there could mean a large up-move in the Ruble.
Tomorrow Paul Coghlan will be giving a public webinar covering the charting methods i discuss here on this blog. He’s the best in the game so check it out.
The best charting teacher I know: