EMAAR Technical OverviewPosted on Monday, October 31 2016 at 5:27 am GMT+0000
Long activation above 6.95.
Both long and medium term traders remain neutral with the market revealing weak characteristics, where a confirmed break above the weekly top at 7.46 would be needed in order to confirm a shift in the long term outlook. Moving to the short term, the last decline had been halted at the 6.70 area, hence short term traders should monitor for signs of support above the 6.70 previous low, where only an immediate break above the 6.95 will allow for short term positions. Failure of the share to remain above the 6.70 level will signal for extended bearish moves.