Sunday 22 November 2015

MIDEAST STOCKS-Saudi bounces further from chart support; Egypt edges up | Reuters

MIDEAST STOCKS-Saudi bounces further from chart support; Egypt edges up | Reuters:

"Saudi Arabia's stock market bounced further from a technical support level on Sunday but other Gulf bourses were little changed. Egypt's market edged up.

The Saudi stock index has been rebounding in the last few days from support at November's two-year low of 6,828 points. On Sunday it added 2.1 percent to 7,179 points, rising above resistance on the November high of 7,161 points.

A second straight daily close above that resistance would confirm a clean break, triggering a minor double bottom formed by the November lows and pointing up to 7,461 points."



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