UAE-Mubasher: UAE stock exchanges are expected to stay at the current levels amid the continuity of their recent volatile sideways trend.
The general index of Abu Dhabi Securities Exchange is likely to hold above the first support level of 4,170 points, said Sameh Gharib, Head of Technical Research at Roots Securities.
The second support level stands at 4,085 points, he said, adding that the index will see resistance at 4,274 points.
Foreign investors and institutions failed to support the Abu Dhabi bourse against the selling pressures of UAE and Gulf investors.
Commenting on the Dubai Financial Market (DFM), Gharib forecasted the index to hold at 3,127 points and to see resistance at 3,300 points.
Gulf and local investors did not manage to support the DFM by their purchase transactions against the selling activity of institutions, and foreign and Arab investors.
