The Dubai Financial Market closed for the month of December and 2017 at 3370 points, recording an annual decline of 4.6% and a monthly decrease of 1.47%. In 2017, the volume and market value decreased to AED 115 billion. The real estate and construction sector accounted for 39% Banks accounted for 29% while the Investment & Services sector accounted for 10% of the value of trading.
2017 witnessed many important events, whether geopolitical or corporate news, which influenced investors' decisions, which were dominated by the pattern of confusion in the direction where the market side dominated between the level of 3600 and the level of 3300 points on most of the movement
Technical Road Map for the Dubai Financial Market for January
General Technical Vision
In contrast to the last month of December, when we were conservative and watching the decline of prices and the formation of a bottom to build price centers, in January 2018 we recommend buying and believe that the market has reached attractive areas to buy and that the market has the ability to form technical gains over the next period aimed at returning to 3680 Point at minimum
In our technical report for the month of December and in our technical report on December 24th, 3330 points were recorded as a buying point. December 28 was set as the day of the expected time reversal of the market. We saw a full and significant commitment to the market in the time and price factor and led Emaar's rebound movement from a bottom of AED 6.75 To close the day
