By: Mahmoud Gamal
Mubasher: The indices of the Gulf stock markets are expected to face important resistance levels on Monday, analysts told Mubasher.
Such resistance levels will be clear in the coming sessions, depending on the US President’s statements regarding the policy his country will follow with the Arab countries, technical analyst Muhammad Radwan said.
America’s economic relation with the region, as well as oil prices and the US interest rate will be the main indicators for investors in the GCC markets in March, the analyst noted.
The Saudi Stock Exchange (Tadawul) will see a sideways performance between the levels 6,700 points and 6,650 points, targeting 8,100 points and 8,400 points on the medium-term, Radwan said.
Meanwhile, Boursa Kuwait is expected to see selling transactions this week that may hold its upward performance between the levels of 6,980 points and 7,000 points, the analyst said, noting that the 6,500-point level is where the market loss should be stopped, the analyst said.
He added that the Kuwaiti stock market may continue to rise to 9,000 points and 8,500 points after profit-taking activity.
