Developments in Bahrain are starting to affect market sentiment in the Gulf and the UAE will not be immune.
Price charts for the UAE stock markets have been poised recently for a retracement to the downside and civil unrest in the region may only serve to amplify a normal correction. Abu Dhabi began its slide on Wednesday with Dubai likely to follow.
Further profit taking at this stage is natural after the strong rallies off the bottoms hit several weeks ago. The fact that the Abu Dhabi Securities Exchange General Index (ADI) and Dubai Financial Market General Index (DFMGI) were able to hold strong for a majority of last week is a testament to their underlying short term strength.
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