Dubai Financial Market
Dubai Market Index closed at 3341 levels 3355 resistance is still important if the index stabilizes above passing through 3342 it will target 3400-3430 conditional on penetration of resistors 3380 -3412 while Failure, support is as it is 3325 - 3312-3300, noting the coherence of the index, despite the correction operations that many stocks suffered from, and this suggests that it is difficult to break 3300 -3280 levels at present ..... And God Almighty knows best.
Will the index break 3200-3190 levels soon ?? !!
Regarding the subject of much debate, is whether the index will break 3200-3190 levels during this period and thus enter a strong correction wave at the beginning we must put in the hands of the reader A set of technical facts, the first of which is the difficulty in reading averages in the cross-direction, as they often give fake and contradictory signals. In addition, in the overall horizontal direction, often positive or negative forms appear that are aimed at higher or lower goals, and therefore most likely exit from the horizontal direction and most of them fail. Due to the nature of the complex horizontal direction, the trends also lose their strength and their value in this direction is constructive Based on the foregoing, we find it difficult to rely on the previous tools in determining the ability of the indicator or not to withstand the highest 3200 currently, but using other technical tools we will see that there are good technical signals that can be relied upon such as positive breakthroughs formed on the index and the various technical indicators in addition to the presence of a pregnant trend For the index, the index is still above, which suggests that it is difficult to break 3200-3190 levels at present. In addition, the composition of the index is currently in terms of the weights of the companies that make up the index, different from the previous one, where we find that despite the strong decline of a number of companies, the index is your secret location or a simple downturn. That the companies Barr weight in the index and is the Emaar and Dubai Islamic and Aramex and moules Emirates and NBD has achieved excellent results and constitute more than 50% of the index and most of the good technical signals so we find technical difficulty in breaking levels currently 3200-3190
Weekly Emaar arrow
The chart shows the presence of strong positive breakthroughs on the Emaar share in addition to the cohesion of the stock above the downtrend and horizontal support 6.37 for the second week in a row in addition to the presence of a strong support conglomerate starting from 6.37 and Up to 5.90 passing through 6.06-6.03, all of which are very strong supports that do not break easily, in addition to clear sales breakdowns. Therefore, we would first target targeting 6.58 - 6.69 penetration, so the stock will go for a test of 6.82, and if it exceeds it, the stock will try to test levels of 7 dirhams again 
