EMAAR Technical Overview

EMAAR Technical Overview

Bearish sentiments return.

Although the long term outlook remains somehow Bullish, the recent weekly top formation right below the key level at 8.00 has weakened the current structure. While Bearish pressures escalated as the share broken below the 7.35 critical daily support, paving the way for a deeper downward move. As a result, traders of both the long and medium term shall remain out of the market, and patiently wait for a clear Bullish reversal before considering any new market entry decisions.