UAE markets: No bullish reversal yet | GulfNews.com:
"Last week the Dubai Financial Market General Index (DFMGI) dropped by 43.90 or 1.32 per cent to end at 3,286.54. There were 28 declining issues against nine advancing, while volume dipped to a 22-week low. The DFMGI has remained under pressure for the past five weeks. Each week has ended lower than it started except for one, last week. Nevertheless, last week was up only by 0.14 per cent. Is it time for some relief? Sorry to disappoint, but there’s no sign yet that the decline has ended. In addition, a new bear trend continuation signal was generated last week as the index fell below the prior swing low of 3,264.36 from June of last year. However, the signal was not confirmed just yet as there has not been a daily close below that low."
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