With trading on Sunday (December 24th)
The general index of the Dubai Financial Market closed at 3348 points
Emaar shares closed at 7.06 dirhams
In the Dubai Technical Roadmap for the month of December we mentioned that we are waiting for the market to return to 3330-3360 points and we recommended buying from this level on the selected stocks and we believe that the market trades this week achieve these levels as we believe that the shares
Classical Technical Analysis
The decline in trading volumes and days below 200 million dirhams confirms the reluctance to sell, and there are some technical signals on the RSI & MACD indicate positive breakthroughs support the expected rise of the market, and the bottom of the channel carrying the movement at the levels of 3330 points, does not prevent that We see some price withdrawals if the pressure continues to reach 3303 and in general we do not believe that the market will break the level of 3260 the previous bottom, and the positive movement is reinforced by the return of trading above the level of 3400 points
Elliot wave Technical Analysis
We continue to follow the same scenario in the December road map and in the latest technical report where we believe that the market in the recent wave of falling which is expected to end near the current atmosphere and then expect to see a strong rebound to the market within the wave of driving the market to trade above the level of 3700 points
