By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets’ main indexes are expected to see critical resistance levels on Sunday, analysts told Mubasher.
Such technical levels are important as they will set the market’s trend through the rest of this week, according to Ahmad Al-Amoudi, technical analyst at Trades Chamber.
Dubai market’s main index should break the resistance level of 3,367 points to move above 3,414.1 points, the analyst noted.
If the index does not manage to break such levels, it will fall to 3,138 and 3,061 points, respectively, Al-Amoudi added.
Traders should closely monitor the oil and stocks’ prices if the DFMGI nears 3,259 points, technical analyst Thabet Al-Harbi said.
The markets are likely to see profit-taking at open amid lower oil prices and volatile global markets, technical analyst Salam Saeed told Mubasher.
