Dubai-Mubasher: The UAE markets are still heading south as heavy investors are adopting a wait-and-see strategy while speculators brought the bourse under their control, analysts told Mubasher.
Both DFM and ADX ended Tuesday’s trading session in the red zone.
The current weak trading activity confirms that small traders are now shaping the trends of the UAE markets which strive for large cash flows, said Fadi El-Ghattis, CEO of Think Financial Studies.
El-Ghattis noted that the markets would continue their declining trend in the coming period to target the support levels ahead.
DFM has a support level at 3,120 points, at which it has to hold firm in order not to slip below the 3000 points level, said the CEO.
Meanwhile, he added that ADX has weak support level at 4,200 points, followed by fragile levels at 4,100 and 4,000 points, respectively.
