Mubasher-Kuwait: The price index of Kuwait Stock Exchange (KSE) is expected to have a short-term target at 5,800 points which will lead to 5325, 5100, and 4800 points respectively, said technical analyst Nawaf Al-Oun.
The weighted index is projected to have a support level at 363 points which if broken below will reach 336 points, inflicting heavier losses upon blue ships and specially banks. The weighted index would target 377 and 389 points respectively in case the price index rebounds from the support level 5,325 points.
Al-Oun projected Kuwait-15 index to reach 840 points from which the index will continue its downward trend to 810 or 750 points. However, the index would target 880, 907, and 936 points respectively in case a rebound is triggered.
The benchmark index of KSE levelled down 0.55%or 29.42 points to close at 5357.62 points on Tuesday.
The weighted index fell by 0.57% or 2.09 points to reach 363.21 points. The Kuwait-15 index lost 0.65% or 5.58 points to approach 852.36 points.
