By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to see important resistance levels amid uncertainty over the performance of oil and global stock markets as the 2016 US election will start on 8 November, analysts told Mubasher.
These levels will set the markets’ trend through the rest of this week, capital market analyst Mohammed Al Shammari.
Dubai's general index will approach 3,300 points if it breaks above 3,290 points, the analyst noted.
Al Shammari advised investors to be cautious and activate stop-loss orders if the DFMGI breaks below 3,250 points, Al Shammari added.
The UAE equities need to maintain a clear trend to help investors take the right decision, especially as the markets suffer from thin liquidity and weak trading, the analyst told Mubasher.
Dubai’s main index needs to break its resistance at 3,350 points to stabilise above 3,320 points, analyst Mohamed Al-Azmi told Mubasher.
Regarding Abu Dhabi’s bourse, the analyst said its main index will decline to 4,270 points if it does not move above 4,290 points.
Translated by: Julian Nabil
