By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are likely to test critical resistance levels, amid the rise of oil and global markets, analysts told Mubasher.
Such levels are technically important for the markets to rebound in the coming sessions, capital market analyst Mohammed Al Shammari told Mubasher.
Dubai market’s main index lies between its resistance at 3,570 points and support at 3,520 points, Al Shammari added.
Dubai-listed heavyweight Arabtec Holding is expected to control the market’s trading on Thursday, especially after some positive statements given by its shareholders after they met on Wednesday, Ahmed Abdul Jalil noted.
The company’s shareholders ratified the board’s report on the company’s financial position and business activity for the fiscal year 2015.
Dubai market should break 3,600 points to enter the positive territory and reach 3,615 points, market analyst Tarek Essawy said.
