EMAAR Technical Overview

EMAAR Technical Overview

Uptrend resumption.

Long term traders remain neutral with the market revealing weak characteristics. Prices fell after finding resistance at 7.44, the last decline can still be treated as correction of the prevailing up bias, which will provide medium term traders with renewed long entries, they will be monitoring for stronger support confirmation before any market entry can materialize, such confirmation will be brought about by any break above the 7.28 intraday resistance. Short term traders shall be waiting the immediate break above the 7.10, which will confirm the resumption of the short term up bias aiming to target 7.50 and 7.84.