General Zhukov Gets to Berlin First

With geopolitical risks admittedly lurking in the background, one can still simply not deny that Russia has been on a tear to the upside. Merely keying off the RSX country ETF will reveal as much. YNDX is an internet play related to Russia we have been long inside the VIP arm of the service as an investment. 

But there is another angle to the Russia story, of course. Without question, Russia is a commodity-rich nation. 

Thus, if steels and global materials (non-precious) miners will flourish in the current macro landscape we must consider dabbling in the likes of Mechel, a Russia steel (and materials like coal and iron ore) play. 

The MTL daily chart, below, looks to be basing for a move up and away from the $5 level and 200-day moving average (yellow line). 

To be sure, MTL trades with thin volume and should be considered higher risk than usual due to geopolitical headlines. However, the market continues to give a decided edge to bulls in virtually all themes, and Russia may very well be at the head of that pack. 

So while domestic steels are certainly viable (and liquid), MTL may be ripe for the taking for more aggressive snipers.