Overview of Dubai Financial Market sectors: Real Estate and Financial Services

  • Real Estate Sector (DFMREI)

    DFMREI - DAILY TECHNICAL ANALYSIS
    DFMREI - DAILY TECHNICAL ANALYSIS

    • The real estate index has experienced a turbulent journey with multiple price fluctuations.
    • After encountering a significant rejection around the 7,780 level, the index plummeted sharply.
    • Following a breakout of the Double Bottom pattern, the index surged and approached the 8,370 level.
    • However, another strong rejection led to a downtrend in the real estate index.
    • Upon finding support around the 7,160 level, the index reversed its direction once again and seems poised to sustain its upward momentum.
  • Financial Services Sector (DFMFI)

    DFMFI - Daily Technical Analysis
    DFMFI - Daily Technical Analysis

    • The index has been steadily climbing, showcasing multiple bullish patterns in succession.
    • Initially, a Cup & Handle pattern emerged, signaling a continuation of the trend.
    • Following the breakout, the index surged upwards, respecting the chart pattern.
    • However, a rejection near the 2,900 level caused a rapid decline.
    • Despite this setback, there was a resurgence as the index formed a Symmetrical triangle pattern.
    • After another breakout, the financial index soared to its all-time high near the 3280 level before undergoing a sharp correction.
    • Following a period of consolidation, a Rounding Bottom pattern emerged, leading to a strong breakout.
    • This recent breakout suggests promising future growth for the index.
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