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Wednesday, 11 January 2017

MIDEAST STOCKS-Saudi declines on oil, Dubai stalls near 15-month high | Reuters

MIDEAST STOCKS-Saudi declines on oil, Dubai stalls near 15-month high | Reuters:
"Saudi Arabia's stock market declined for a fourth straight day on Wednesday after oil prices fell further, but other Gulf bourses largely moved sideways and Dubai held near a 15-month high.

The Saudi index pulled back 1.6 percent to 6,895 points, falling below technical support at the mid-December low of 7,002 points. Another straight close below support would confirm a break, triggering a double top formed by the December and January peaks and pointing down to around 6,770 points.

The market had rebounded more than 30 percent from its October lows so analysts said profit-taking pressure was inevitable."

'via Blog this'