Dubai Financial Market is at a crucial support zone. Hopefully it will not break the support.
The Resistance - Jinx?
After making a big move from 3000 level to 3300 where market found strong resistance, its been getting rejected again & again. For the last 1 and a half month market is ranging, upper range is 3220 and lower range is at 3140 which is technically a strong support for now. I had also uploaded a detailed video on market index on my youtube channel if you have missed it you can watch it here.
For now immediate resistance is at 3200 and then 3220 once this is crossed we have a hurdle around 3240 and finally 3280 zone that is a major resistance zone.
Let us also highlight our support zones in case market falls down further, a psycological support zone is around 3100, then we have minor level at 3050 area and and strong support at 3000 level.
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