By: Mahmoud Gamal
Dubai-Mubasher: The UAE stocks markets are expected to recover on Wednesday while trying to absorb the news on Brussels attacks, analysts told Mubasher.
The UAE main indexes will try to break resistance levels and confirm their uptrend in the medium term, as oil prices are stable above $41 and U.S. and European stocks are on the rose, capital market analyst Gamal Abdel Hamid said.
Yesterday, Dubai market closed above 3,350 points showing signs of recovery that suggest the main gauge may break the resistance level of 3,370 points.
Abu Dhabi market’s general index is expected to maintain its positive performance and close above 4,600 points.
Low liquidity showed that investors do not have the desire to sell their stocks at the current price levels, according to Ahmad Al-Amoudi, technical analyst at Trades Chamber.
