BULLS ARE CONTROLLING DFM
Last week was just fantastic thanks to Emaar Properties it was just unstoppable. Market index is in bulls territory and with DEWA IPO fever market sentiments are very high & positive.
Lets Talk Technical
If you have seen my last analysis on DFM General Index I had mentioned that there are very good chances of market going up after retesting the support zone. We are seeing similar kind of pattern, market have closed above 3400 level which is a technical resistance. If you would like to watch the video on Dubai Financial Market Index click and watch below.
Market is very bullish, with DEWA IPO market sentiments are very positive and there are good chances it will be over subscribed. Invest in Dubai Stock Market!!
For now market is trending up and its very easy to make money when a stock or market is trending. If you would like to learn technical analysis and reach charts like a professional you may join my mentorship program click here where I teach Technical Analysis in detail.
I think Dubai Stock Market Index will revisit 3500 level and we may see some negative reaction right into this zone but this will not be a trend reversal, small correction is expected to make another big move to the upside. I think we will see 3600 level very soon.
- Support levels for now are 3400 – 3350 – 3330 any dip will be merely a correction to make a new high.
- Resistance levels are 3436 – 3484 – 3500 .
Over all market is very bullish as I keep saying, JOIN THE WAGON.
DEWA IPO have started and if you still don’t have a investor number click here and get it in just 3 mins on your phone by sms and subscribe this MEGA IPO.
All The Best!!
