MIDEAST STOCKS-Saudi slides below chart support on oil; UAE and Qatar firm - Yahoo Maktoob News:
"Saudi Arabia's main stock index fell below technical support on Sunday because of weak oil prices and disappointment that inflows of foreign funds had been slow. Markets in the United Arab Emirates and Qatar rose.
The Saudi index fell 1.7 percent to 9,344 points in thin trade, dropping below its 200-day average, now at 9,433.
Two straight daily closes below that support would be technically negative, implying a fresh wave of profit-taking after the index rose in anticipation of the market being opened to direct foreign investment on June 15."
'via Blog this'
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