Saudi Arabia's newly emerging safety stock, with code number 8050, is moving in a downtrend since its beginning in early 2019 until it reached the bottom level of 9.50 and then broke the falling trend line at the beginning of this year
It also broke the resistance level of 11.85 to reach the resistance levels 13.25-14.00 to drop it due to a negative Divergence on the RSI
The price returns to correct and retest the support level 11.85 with an upward channel presenting and the price settles at the lower boundary of this channel
It is expected to resume the rise and visit the resistance levels and breach it to reach the level of 15.80
The trading range is 11.85-14.00
Expected bullish trend
