Dubai – Mubasher: The UAE markets indices expected to test major resistance levels on Sunday session amid the upside trend of the oil prices, Badr - EL Drzy, technical analyst told Mubasher.
“DFM main index will test major resistance level of 3,650 points,” said EL Drzy.
“If the market closed at a level above 3,650 points that will be considered as a sign that the investors are entering the market and the reverse if it closed below the level of 3,200 points,” added EL Drzy.
In respect to Abu Dhabi market, the analyst noted that ADX main index will gain major support at the level of 4,200 points, while it targets the level of 4,700 points.
Meanwhile, ADX main index may move lower towards the level of 4,260 points if it failed in keeping its position above the level of 4,300 points, noted the analyst.
“The investors are advised to keep an eyes on the stocks of the companies that enjoy solid solvency and that are expected to pay good dividends,” said EL Drzy
