Red is correct about technicals, but the real bottom was the 39,000,000 shares traded last year in Russia, then we followed that with Putin's military vacation to Crimea to these lows. This puppy is set to fly.....the arbs are ignoring the difference between ADR and Russian common, because it is untradable. If were easy, it woud have been done, but the ADR is the king instrument. The ADR protects a little from the devaluation of the Ruble. Just make sure you own as much as you can, these are once in a generation lows for MTL.
Personally I would be ignoring technicals during volatile catalyst driven periods. In fact, I wouldn't even attempt to trade a stock during these times unless you have inside information which lets you move quicker than the professionals to big catalyst events. Try trading this on technicals and overnight Putin could send his troops into East Ukraine, the US and EU could impose harsh sanctions or any other number of huge events which could completely overwhelm even the strongest of technicals.