By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to see a positive performance on Tuesday amid recovery in Gulf markets and oil prices, in addition to a tendency of some portfolio investors to accumulate and make speculative bids on selective stocks that showed better financials, analysts told Mubasher.
The markets are likely to rebound amid news that an agreement on current oil prices will be signed soon between major producers, said capital market expert Ibrahim Al-Failakawi.
Commenting on Dubai Financial Market (DFM), technical analyst Ahmed Al-Zahouri said that the DFMGI moved above 2,970 points, a level that may lead the index to see a positive shift and stabilise above 3,050 points.
Al-Zahouri added that support level in the way of the main gauge stands at 2,975 points. There are weak expectations that the index will see an upward trend technically through the rest of this week.
As for Abu Dhabi Securities Exchange (ADX), he noted that the main index will see resistance at 4,150 points if it continues its upward trend.
Translated by: Julian Nabil
