By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to resume their gains on Sunday, while their performance will likely be volatile, technical analysts told Mubasher.
Dubai’s market will not generate gains until its main index move above 3,188-resistance level which represents a pivotal point in its upward trend to target 3,276 points, said technical analyst Yasser Ali.
However, a failure to break above the resistance level will take the index lower to important support level of 3,124 points then to 2,987 and 2,963 points in a row, according to Ali.
The analyst added that Dubai’s market is expected to see normal corrections in the coming two weeks.
Commenting on Abu Dhabi’s market, Ali noted that its main gauge targets to reach 4,350 points.
He went on to say that the support level for the index stands at 4,144 points.
Translated by: Julian Nabil
