Saudi stock index technicals deteriorating; falls below 100-day average | ZAWYA MENA Edition

Saudi stock index technicals deteriorating; falls below 100-day average | ZAWYA MENA Edition:

** Saudi Arabian stock index drops 1.2 pct to 8,080 points in early trade; short-term technicals are deteriorating

** Index falls below 100-day average, now at 8,149 points, for first time this year

** Breaks below uptrend line from last November

** Drops below technical support on mid-June low of 8,154 points; two straight closes below that level would trigger double top formed by June and July highs, and pointing down to 7,847 points