The Abu Dhabi General index shows strong upward potential, supported by two vital sectors

FTSE ADX General Index (FADGI) - Overview

• Following a peak at the impressive 10,667 mark, the index faced significant resistance and embarked on a downward trend.
• During this period, a Falling Wedge pattern emerged, and the index has recently broken through this formation.
• Currently, immediate resistance is observed around the 9,900 to 10,000 range.
• If the index successfully surpass and maintain its position above these levels, it could trigger a rally to the upside.

FTSE ADX Real Estate Index (FADREI) - Technical Analysis

• The real estate index first peaked near the 8,690 level before retreating and entering a prolonged consolidation phase.
• During this period, an Ascending Triangle pattern emerged.
• After a strong breakout, the index surged past this pattern and continued to climb.
• However, it encountered resistance around the 11,500 level (specifically at 11,516), where it hit an all-time high before pulling back to revisit the breakout level.
• After a successfully retest, the real estate index is now on the rise again.

FTSE ADX Consumer Staples Index (FADCSI) - Technical Analysis

• The consumer staple index encountered significant resistance around the 14,500 mark, leading to a swift decline followed by an extended period of consolidation.
• During this phase, the index developed a Rounding Bottom pattern.
• In July 2024, it successfully broke through its prior resistance, signalled a breakout from the Rounding Bottom formation.
• Since then, the index has remained above the breakout area and is now moving toward higher levels.