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Sunday, 14 May 2017

Low volatility persists in UAE markets | GulfNews.com

Low volatility persists in UAE markets | GulfNews.com:

"The Dubai Financial Market General Index (DFMGI) was flat last week, up only 0.46 or 0.01 per cent to end at 3,420.19. There were 11 advancing issues and 24 declining, while volume slipped a bit from the previous week. At the beginning of the week the index dipped below the prior week’s low, giving a bearish trend continuation signal. Support was subsequently found on Monday at the week’s low of 3,380.16. At that low the DFMGI had corrected 9.6 per cent off the 2017 February high of 3,738.69. That’s less than either of the two prior corrections that have occurred since the DFMGI bottomed in January 2016. Each of those were over 11 per cent. This might mean that if last week’s bottom holds it is a sign of relative strength, and it would clearly be a higher bottom than the last bottom or swing low that was hit in November of last year. Sequential higher bottoms is one element showing strength within price behaviour."



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