By: Mahmoud Gamal
Dubai-Mubasher: The UAE main indexes are expected to hold firm at their current levels on Wednesday or to slightly rise on back of higher oil prices and uptrend of global markets, technical analyst Salam Saeed told Mubasher.
Dubai markets’ main index sees an important support at 3,250-point level, Saeed said, adding that moving below that level will lead traders to make quick sales.
The DFMGI targets to reach an important resistance level at 3,282 points, according to capital market analyst Gamal Abdel Hamid.
Breaking that resistance will push the Dubai market’s index to 3,333 points, backed by the buying activity on leading stocks that started on Tuesday, Abdel Hamid explained.
Most blue chips are likely to rise, Abdel Hamid said, expecting Emaar Properties to break the psychological barrier of AED 6 and Dubai Islamic Bank to exceed AED 5.72.
