Dubai Financial Market Technical Report - January 23

Dubai General Index

The market index closed at 3478 points

We have mentioned previously the first goal of the index at 3535 levels, where the index achieved the target and the highest point reached 3542, then we mentioned the importance of 3505, which was broken, we favored the process of taking profits to achieve A negative target at 3440, passing through support 3450, where the index bounced with support and bounced from 3453 levels, to close with a candle reversal at 3478

In general we still maintain a positive view of the market .... And regarding the daily movement there is an important resistance 3505, which by penetrating it is likely to end profit-taking and targeted 3532 from New passing through 3512 -3526 while breaking 3450 targeting the index 3440 with our suggestion of a horizontal movement during the coming period between 3440 and 3526 levels and that for some time before starting a new upward wave to achieve the goals that we talked about previously and are 3615 and 3726 with the addition of a third target at levels 3640, and a fourth target at 3850 levels. These targets are for monitoring and review, and in the event of negative signs reflecting the trend, they will be talked about.

Arabtecs

Drake & Cycle Stock

brightening arrow

Any breakout of 80-81 targeting 89-91 breaks 0.73 negative

Gulf Finance House (Al Jafsh) Stock

Positive close at 1.52 breakout 1.54 means break above downtrend sub-stability above targets 1.65 through 1.62 break 1.46 negative

Amlak Stock

Positive stability above support 1.02, negative break above, targeting 1.08 through 1.04

As an overview of the indices of some global markets

German Dax

The German DAX walks within the Harmonic model on the monthly target 14497 levels which are control areas that usually follow the achievement of the goal for profit-taking operations

NamaaZone " The Power of Knowledge"