By Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are anticipated to target important significant marks during 13-17 November, according to analysts.
The Dubai Financial Market (DFM) is forecast to face an important resistance mark at 3,310 points, said market analyst Mohamed Al-Housni, clarifying that the DFM general index is trying to reverse the current downturn.
Long and short-term traders are advised to watch the safety level at 3,270 points, Al-Housni added, noting that if the main index moves below this mark, it will likely to decline to the 3,240-3,220 zone.
The Abu Dhabi Securities Exchange (ADX) is expected to test the resistance mark of 4,300 points, said market analyst Fawzi Abdullah, clarifying if the market fails to break above this resistance, it could fall to the 4,260 area.
On Thursday, the ADX main index fell 0.95% or 41 points to reach 4,282.46 points, while the DFM general index shed 0.15% or 4.87 points to stand at 3,274.06 points.
