However, it did end the day right around its 7,750 support level
. There is the possibility that we might see a bounce (Wednesday) but in case we don't, the next support level
is at 7,630,' said AAA Equities head of research Christopher Mangun.
"A bearish break below the support level
hinted at a further decline in DIC to Dh1.16/1.06," Shiv Prakash, senior analyst with First Abu Dhabi Bank Securities said in a note on February 7.
Market may stay above 7,000 level this week !-- -- Iris Gonzales (The Philippine Star) - October 15, 2018 - 12:00am MANILA, Philippines The stock market index may move sideways and stay above the 7,000 level this week, or it could tank and test the next support level
at 6,800, traders said.
He noted that the EGX30 is trying to remain stable and rebound higher than its support level
at 14,200 points.
EFG Hermes failed to surpass the previous support level
, which turned to a resistance one at LE 23.8 -- LE 24 before ending Thursday's session at LE 23.18.
The stability above the 9,000 is important for market; that could be a strong support level
to bounce off.
The contract bounced after reaching the 100-day moving average, a key support level
just above the psychological 21-cent level.
"The Support Level
is raised to '1', reflecting both the Kuwait government's blanket guarantee of all customer deposits placed in Kuwait and the record of both the Central Bank and wider Kuwaiti government in supporting Kuwaiti banks in time of need.
The 1.6815 support level
on the Daily timeframe has appeared quite stubborn this week and a downside break below this level is required to confirm further moves south are in the pipeline.
Of course, in the mind of a prospective franchisee, what would be the point of selecting a minimal support level
if you had to pay the same franchise fee as someone with maximum support?
But drop of Brent quotes below 105 dollars per barrel, which opens the way to support level
of 100 USD, and also the unwillingness of the speculators to leave open positions for the week-end will make a hold-back effect on the Russian shares' quotes.