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Category Archives: Russian Ruble

Russian Ruble (CME) A look At the Weekly Chart.

 

 

From the big picture point of view, it is hard to get enough data on the Russian Ruble (RUB) to work out a good wave count. I don’t have the time to devote to  the intraday charts, but the occasional look at the Ruble is warranted.  It would be pure luck if the Ruble had the same crash bottom as oil and gold.  These contracts are still very thinly traded, so I’m sure the RUB will present a unique challenge in the long run. 

Since the start of 2016 we have what looks like a pretty good impulse, with a triangle 4th wave as well.  Any triangle always points to at least one degree higher, of a degree change to come, which could be an”A” wave in Minor degree.   The commercials are very heavy net short the Ruble, by a ratio of about 3:1, but that may not mean anything at this time. We have to wait and see which group will have the best track record, and that could take years of watching.  

It is pretty hard to do more damage to the Ruble as it seems to follow the oil phases like our CAD seems to do. 

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