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Technical Analysis – Abu Dhabi Securities Exchange Nov-15-2021
Capital Investments- Monday, November 15, 2021
ADX General Index <.ADI> closed at 8,269.425 point. The market eased down after a prolonged bullish move that led to a temporarily top at 8,320 point (new history high). This is considered as a natural downward correction due to the overbought status of the RSI indicators, while additional weaknesses could take place to the horizontal line at 8,000 point but losing it will lead to 7,600 point. On the other side, a firm close above 8,320 point should be seen to re-activate the upward move to 8,500 point. Medium-term and long-term investors can stay in the market with a stop-loss below 7,150 point and 6,200 point, respectively
Country :
Kuwait
Report Type :
Daily
Report Date :
Monday, November 15, 2021
Provided by :
Capital Investments Capital Investments
Report Size :
623
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