By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are in bad need for more liquidity to be pumped during Wednesday’s session in order to break the key resistance levels, coinciding with speculations as well as the falling oil prices and mixed performance of global markets, analysts told Mubasher.
Low liquidity in markets will make it easier for speculators to control the amount of trading value, capital market analyst Wael Mohaisen said.
The low levels of oil, approaching $40, will negatively affect the UAE markets especially Abu Dhabi Securities Exchange (ADX), the analyst added.
The benchmark index of Dubai Financial Market (DFM) may continue its sideways performance and reach 3,560 points, while ADX’s main index is likely to target 4,520 points on Wednesday, said technical analyst Hammoud Al-Azmi.
Translated by: Ingy ElSafy
