Dennis Gartman Thinks That Crude Oil Is Going To $30, Sees More Trouble For Ruble

Speaking on CNBC's Fast Money, Dennis Gartman said that Russia's attempt to strengthen the ruble by an increase of interest rates to 17 percent is going to be only temporary and that traders should sell any rally in the currency.

Gartman added that he has seen central banks trying such attempts in the past many times and almost every time the attempt has failed. He expects to see USD RUB at 100 and after that further weakness is possible. He also thinks that Russia was selling gold on Monday because the other assets it owns are trading low. Gartman believes that crude oil is going to trade at $30, which should really hurt Russian economy.