- January 19, 2017Last updated 5 minutes ago
Bruce Powers is a Business Columnist in Gulf News based in Dubai.. Follow @gulf_news on Twitter
- Both the Dubai and Abu Dhabi market indices broke out last week above their 2016 highs and ended the week strong.
- This was the DFMGI’s best performance in five weeks
- DFMGI has stabilised around support of 3,490.66 for the past week and a half
- Fall below last week’s low of 3,490.66 signals a continuation of the decline
- Indications are more short-term bearish given the high volume
- Further supporting the bullish potential for the DFMGI is recent price behaviour