The general index of Dubai Financial Market closed at 3494
The market was subjected to technical pressure due to natural profit taking, due to buying difficulties and negative divergence on the hourly frame (average strength), in addition to strong resistance, the first of which is 3505, 3512, 3518, 3528, 3535, Therefore, if the indicator is unable to overcome these resistors, it may be subject to further profit taking towards 3450-3420 in order to acquire the momentum to breach the technical resistance technically
We still see the index's ability to build a top higher than 3512 and we will talk about the later positive targets
Damac Properties
The stock closed at 3.41 AED, where the stock managed to form a good price base at 3.28 levels of 3.46 to target 3.55-3.66. In contrast, a break of 3.33 returns 3.27-3.24 and a negative break and a stop loss.
In general, the stock is in a positive classical pattern and is the positive bearish wedge pattern
