By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets’ main indexes will see resistance levels through the rest of this week amid lower oil prices and volatile global markets, analysts told Mubasher.
Dubai market’s main gauge has to break the resistance level of 3,120 points to enter the positive territory, said capital market analyst Ahmed Al-Zahouri, adding that the support level for the index stands at 2,980 points.
Closing at 3,047 points on Wednesday, the DFMGI is likely to target 3,091-3,117 points in case it maintained its positive performance in the coming sessions, according to Ahmed Al-Shamsi, head of Traders Chamber for technical analysis.
Commenting on Abu Dhabi’s stock market, Al-Zahouri noted that the main index saw important resistance at 4,150 points, while the support level stands at 4,060 points.
Translated by: Julian Nabil
