By: Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are expected to test important resistance levels on Thursday amid uncertainty about the upward trend in global markets.
Market analyst, Mahmoud Al Husseiny, suggested that the UAE bourses tests new resistances to support its upward movement in the coming sessions.
“The movement of the Dubai index confirms that it will test the level of 3,575 points,” Al Husseiny said, noting that the index’s closing level on Wednesday qualifies it to near a support level at 3,490 points and a resistance of 3,530 points.
Al Husseiny added that the Abu Dhabi index is expected to test resistances at 4,480-4,550 points.
Technical analyst, Mohamed Al Harby, said that trading volume are still at low levels, which threatens the bourses’ upward trend.
Translated by: Elwy el-Manzalawy
