Dubai – Mubasher: UAE stock markets are forecast to target new resistance levels this week amid a jittery performance of oil and world markets, according to analysts.
The Dubai Financial market (DFM) is likely to test the mark of 3,330 points on Sunday after closing last week at 3,318 points, said Nouaf Al-Ajmi, advising traders to stop losses in case that the DFM main index breaks below the 3,250 area.
The Abu Dhabi Securities Exchange (ADX) is likely to target 4,320 points, said Mohamed Al-Azmi. In case the market fails to shoot above this resistance, it will likely to see more declines towards 4,280 points.
On Thursday, the DFM saw a positive performance on Thursday, in line with purchases of blue chip as its main index 0.43% or 14.19 points to reach 3,318.39 points.
Likewise, the ADX saw a bullish performance on Thursday after the main index rose 0.63% or 26.7 points to reach 4,292.5 points.
