RSX’s Tuesday woes followed Monday’s 3.2% drop on volume that was 28% above the daily average. At the start of March, RSX violated long-term technical support as tensions in Ukraine escalated. That old support has turned into new resistance and is acting as a road block to further near-term upside for RSX.
The Direxion Daily Russia Bear 3x Shares (NYSEArca: RUSS) is up 16% in the past week after gaining almost 8% Tuesday on volume that was nearly triple the daily average. [Resistance Looms for Russia ETFs]
Direxion Daily Russia Bear 3x Shares
ETF Trends editorial team contributed to this post.