EMAAR Technical Overview

EMAAR Technical Overview

Testing 7.13.

Bullish momentum on the weekly timeframe has lost its strength with a sideways movement continuing in the share. While bias in the medium term shifted into Bearish following the drop below 7.35, although trend characteristics remains weak at present time. Moreover, the recent short term top formation at the 7.50 key level has signaled for a return of Bearish sentiments and is warning for a retest of the 7.13 level. At the current time only an immediate break above the 7.50 would change the outlook and allow for short term positions.