What a performance in wednesdays sessions by Dubai Stock Market with good volumes. Market is surely climbing up but at the same time there are chances of a bearish chart pattern that is head & shoulder. If market does not cross the immediate resistance around 2870 zone then we can see a right shoulder forming and once it break the neckline we can see bloodbath in the market. Another scenario is market may zoom past the resistance and cross the recent swing high that was around 2920 and make a new high targeting 3000 levels. For now market is back in action and stocks are looking good.
Hit like & follow guys to support ;)
Hit like & follow guys to support ;)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.