OREANDA-NEWS. On 21 August 2008 was announced, that the Ukrainian stock market start this week was very sluggish, amid insignificant trade volumes the PFTS index grew 0.12%. The broader UFC index also added insignificantly: +0.1%. Among the industries, the most active trades were with energy shares: UFC Utilities gained 0.7%. A slight increase was also demonstrated by UFC Engineering (+0.3%), while UFC Metals dropped 0.1%.

The PFTS index continues its sideways movement, which may be interpreted as fluctuations within rather inconsiderable upwards channel. Nonetheless, we expect that the lower limit of this channel will be broken in the short-run and the market, most likely, will be preparing itself for the double bottom formation.