Kuwait-Mubasher: Investors at the Kuwait Stock Exchange should be cautious when trading in the market as the overall performance tends to be declining, according technical analyst Ibrahim Al-Filkawy.
“Trades in the current period could only be driven by either a bold bidder or a trader experienced in daily speculations,” Al-Filkawy explained.
The analyst said that the price index of Kuwait’s stock market has exceeded 5,600 points which formed an ordinary support level.
Al-Filkawy added that the index will witness a sideway-movement as monthly and annual closures approach. However, the mark of 5,500 points would still make an important support area.
There will be a room for the index to head north and reach 5,730 points as a resistance level, noted the analyst.
