UAE
November 16, 2009
UAE Traders’ Corner
Prime Research 1
ADI
♦ADI witnessed another minimal change where it is consolidating sideways between the boundaries 2,980 and 2,920 in a tight trading range
where the index is now trading near the upper...
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UAE
November 16, 2009
UAE Traders’ Corner
Prime Research 1
ADI
♦ADI witnessed another minimal change where it is consolidating sideways between the boundaries 2,980 and 2,920 in a tight trading range
where the index is now trading near the upper boundary of the range, the loss of momentum on the upside is pointing towards another dip
back to retest 2,920.
The bearish breakdown of this level will lead prices to record a new low for the short term trend at 2,850.
Close Support 1 Resistance 1 Resistance 2
2,966.
91 2,920 3,000 3,070
Support 2
2,822
DFMGI
Close Support 2 Resistance 1 Resistance 2
2,198.
50 1,988 2,220 2,340
Support 1
2,076
♦DFMGI started to pick up slightly to retest its 20 period day moving average from the downside while the index is still declining below a near
term bearish resistance trend line that started October 09, however, during the latest market rally the index show some weakness by creating
a lower high such market activity increases th
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