Dubai Financial Market Index
The general index closed at 3197 with a green result, after holding for several days above the 3150-3164 range. The last 50 represents the golden Fibonacci of the bulls from the entire correction wave and the rebound has a limited number of shares, especially the leading ones, Islamic, Damac, and Du, and lower-weight shares such as Arabtec and Ajman Bank, which is likely to set a price bottom of the index at 3139 levels, which formed the index then a reflective candle added to form a positive bearish wedge pattern
The index is likely to target the levels of 3345 to test the areas of break, of course, through the number of resistors contained in the chart, while breaking the levels of 3164 currently is a negative indicator and in light of that we maintain a positive outlook as long as we top 3164 and if the break will return the index to target the bottom of the wave again Through the break of 3150 which is likely to break the 3139 and complete the negative scenario mentioned earlier on 10-3-2018 with the likelihood of the positive scenario currently that the index fell almost continuously from the levels of 3542 on 17-1-2018 and up to levels of 3139 on 14-3-2108 with little bounce, likely to lose the downside wave It is currently after a decline lasted for two consecutive months without a bounce!
