By: Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are forecasted to test significant resistance marks this week amid uncertainty about the oil prices trend, analysts told Mubasher.
The UAE's equity markets will likely decide whether it keeps moving higher or lower, said market analyst Mohand Dyak, indicating that the Dubai Financial Market (DFM) will target the mark of 3,650 points.
"By pumping higher liquidity into the local market, the UAE's stocks are expected to perform positively over the coming period", Dyak added.
Investors are advised to build new buying positions and proceed with caution in case the main index falls to 3,300 points, Dyak concluded.
On the other hand, the Abu Dhabi Securities Exchange (ADX) is testing the resistance of level 4,630 points, market analyst Badr Al-Darzy said.
If the Abu Dhabi bourse fails to hold above this resistance level, it will likely see a slide to the mark of 4,200 points, Al-Darzy added.
On Thursday, the DFMGI advanced 0.44% or 15.82 points to reach 3,572.44 points, while the ADX general index slid 0.15% or 6.91 points to reach 4,518.45 points.
