By: Mahmoud Gamal
Dubai-Mubasher: The UAE indexes currently stand at resistance levels that should enable the markets to continue their uptrend on Thursday, analysts told Mubasher.
Local stocks are expected to be positively affected by the recovery of global markets and oil prices on Wednesday, UAE markets analyst Hassan Al Hosni said.
Commenting on Dubai’s market, he said that breaking above 3,375 points gives a positive sign that the index will continue its rise and target breaking 3,405, 3,430 and 3,500 points in a row.
Abu Dhabi’s main gauge will stay technically positive as long as it keeps its level above 4,486 points, the UAE markets analyst Daeem Al Saif said.
The market needs investors to build new positions to maintain its positive performance, he added.
In case traders had no appetite for building new position, Abu Dhabi’s market will see correction and fall from 3,421 to 2,590 points, Al Saif noted.
