The relationship between the Russian Stock Index and Curde Oil is good to remember.
The Russian Stock Index leads Crude Oil.
As can be seen the Russian Stock Index broke its uptrend-line already on November 26 indicating, that Crude Oil would have a difficulte time ahead.
A break below 1,293.50 in the Russian Index will open up the downside for a move to at least the low 1.200 area, but a break here would call for a move closer to the wave B low at 811.
Looking at Crude Oil it broke its uptrend-line since February on December 7 calling for a move down to at least the 56-58 area, but we should see a much bigger decline longer term.
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