Dubai Financial Market General Index
The index continued its decline to close the count of 3439 points
Current support 3434- 3424 -3416 -3408 -3377 The first resistors 3450-3460 above target 3485-3585
We still see that the current descent is temporary before entering a new ascending wave with a weighting near the end of the drop
Emaar arrow
Emaar continued its decline to reach levels of 6.59 and close at 6.69 with a reflexive candle as it approached 6.58 and it represents support of 50 Fibo and support for previous trends if it managed to maintain the support 6.58 then the stock will go for a test of 6.82 Overcoming them, the stock will try to test the levels of 7 dirhams again, and in the event that it breaks 6.58, it will target 6.07 passing by 6.37 dirhams
Dubai Islamic Stock
The stock fell, closing at 6.23 levels, affected by the news of the bank’s desire to raise the bank’s capital, which we believe is positive news for the stock, and therefore the current decline is temporary, the stock’s support is 6.18, very strong, and a technical target in the event of a break, the stock targets 6.05 6.00 levels Passing 6.13 while the first resistance is in front of the stock 6.24 and the highest is 6.34
And God Almighty knows best
Our best wishes for success
