Russia’s ruble strengthened from a record low close as Brent crude ended a four-day rout and technical indicators suggested the currency had fallen too far. The ruble, which has declined 6.5 percent against the dollar this month, appreciated 0.2 percent to 71.115 as of 1:19 p.m. in Moscow. Brent crude climbed for the first time in five days, rising 0.1 percent to $36.39 per barrel after reaching an 11-year low on Monday. “With Brent crude showing some signs of stabilization so far today, the selling pressure on the ruble may subside as well,” said Piotr Matys, a strategist for emerging-market currencies at Rabobank in London. The 14-day relative strength index for the currency rose to 30.3748 on Tuesday from 29.2483 yesterday, below the level of 30 which to some analysts signals a security is oversold. Further strengthening will be tied to the price of oil, Matys said. Societe Generale […]