Domestic equity markets are moving into the range

Abu Dhabi (Union)

The UAE market indexes last week were characterized by occasional performances, with limited closing prices at the end of the week, Market Values ​​for the Abu Dhabi and Dubai Markets, Osama Al-Ashri, Member of the Association of Technical Analysts – Great Britain.

He added that the continued flow of indicators at current levels is still at high risk, and will not confirm indicator trends in real terms, unless the volume of trading volumes of half-yearly results is expected and should be positive.

"The Dubai index, which has risen slightly at the end of last week to close at 2884 points, about 10 percentage points on a weekly basis, and it is still easy for the index to target from The expected rebound will only come out of the correction zone if it manages to overcome key resistance levels, which is unlikely in the short term.

Abu Dhabi Securities Market Index, Al-Ashri noted that the capital market continued to rise, closing at 4687 points, up 1.8% on a weekly basis, and promising to continue to climb. , which is expected to be targeted in the medium or short term amidst financial results deemed better than expected for Abu Dhabi shares in particular.

The Saudi market index continued to show signs of deterioration. swap laterally with a weak bullish rebound for to end at 8342 points, up 1.6% on a weekly basis. Trading at moderate risk levels with resistance levels above the legitimate resistance zone to 8500 points in the medium or short term.

Regarding the EGX 30 Index, it failed to target resistance levels close to current levels during last week's trading of 1% on a weekly basis close to the level of 15938 points and still remains a candidate for new levels of support, The main support is at least 15720 points, adding that the Egyptian market is considered high risk at current levels, and that it is still advised to profit and withdraw from stock market transactions that have saturated purchases and are trading at high risk levels.