By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock exchanges are expected to continue their speculative performance on Thursday and form new positions for selective shares amid the recovery of oil prices and some global markets, analysts told Mubasher.
The benchmark index of Dubai Financial Market (DFM) is currently facing key resistance at the level 3,450 points, said technical analyst Ahmad Al-Emadi.
Prices of DFM’s shares are witnessing a slight decline that is suitable for speculators and close to support levels which will allow a rebound, the analyst added.
Abu Dhabi Securities Exchange’s (ADX) main index is targeting the level 4,520 points after it has broken the level 4,509 points, Al-Emadi noted.
The anticipation status which is currently controlling investment portfolios and funds is seen throw lower liquidity in line with the instability of oil price above safe levels starting from $50 and above, capital market analyst Mihamad Al-Shimiry said.
Translated by: Ingy ElSafy
