BKA: The price movement hints at a potential trend reversal!

    • Following a steep drop in March 2020, the index demonstrated remarkable resilience, climbed significantly to reach the impressive level of 8,460 and marked an all-time high.
    • However, the Kuwait All Share Index subsequently faced a substantial decline from this peak.
    • Eventually, it found support around the 6,400 level, which had previously acted as a resistance.
    • From this point, the index began a gradual upward movement.
    • Throughout this consolidation phase, an Inverted Head & Shoulders pattern emerged, indicating a bullish market sentiment.
    • If the index successfully breaks through this pattern, we could anticipate an upward rally in the near future.
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