By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to see important resistance levels during this week in line with the uncertainty over the performance of both oil and global markets, analysts told Mubasher.
Dubai Financial Market (DFM) is currently facing resistance at 3,605 points, capital market analyst Tarek Al-Eisawy said.
Both medium and long-term investors should be aware of protection levels of 3,200 points which will lead, in case of breaking, to a decline to 2,850 and 2,900 points, the analysts clarified.
On the level of Abu Dhabi Securities Exchange (ADX), the main index will see resistance at 4,630 points which will lead to further fall to 4,200 points if it is not broken, capital market analyst Bader Al-Dorzi said.
The UAE markets’ activity remains at weak levels, technical analyst Mohamad Al-Harbi noted.
Translated by: Ingy ElSafy
