By: Mahmoud Gamal
Dubai – Mubasher: The UAE indices will experience important resistance levels in the upcoming sessions, as the upward trend of oil and global markets is not certain, according to analysts.
Dubai Financial market's technical performance indicates its rising movement, touching the level of 3,650 points, technical analyst, Badr Al Dorzy, told Mubasher.
He added that DFM closed on Thursday between the support level of 3,450 points and the resistance level of 3,650 points.
Al Dorzy advised traders not to trust stock markets nowadays as they are negatively affected by political incidents.
The analyst noted the Abu Dhabi Exchange witnesses a good technical support level at 4,350 points, facing resistance levels at 4,450 – 4,600 points.
Traded volumes are still weak, so the increase remains threatened till it is in line with traded volume's momentum that confides investors, technical analyst, Mohamed Al Harby, told Mubasher.
Al Harby added that the UAE markets' profit earning ratio is still not inflated and is considered attractive, with current levels allow more hikes.
