Sunday, April 12, 2009

Russia (RSX) Makes A 4 Month High



The ETF that focuses on Russia goes under the symbol RSX and is heavily influenced by oil prices. As you can see in the above chart, this ETF has broken out to a 4 month high on Thursday. Notice the increase in volume during the rally in March and how volume decreased during the consolidation. I would like to have seen heavier volume on the breakout on Thursday but then again we were approaching a 3 day holiday weekend so volume is usually light. This might be a good ETF to keep an eye on in the weeks to come.

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