Dubai Financial Market- More Down?
Interesting session today, market opened positive today and traded positive till 11am and thn all the shares kept dropping. This is a sign of weakness, selling pressure and early profit booking. Investors are not confident in holding their positions and want to exit quickly. If we take a closer look in the same area in the previous swing high market took a holt at the same place and continued its correction it is not a major resistance zone , market may continue upwards from here as it didnt hit any major resistance yet. Tomorrow being thursday last trading day of week there is a good chance traders may want to exit their positions. Overall this is a weakness in the bull market but we are still in bull phase. I am still bullish :)
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