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Abu Dhabi Real Estate Sector is Bullish, Accelerating Momentum after Breakout
Naranj Capital Research Desk
July 17, 2024
After breaking below the neckline of the Double top pattern, the index experienced a significant correction.
Following a bounce off the 7,300 support level, FADREI started to climb but continued to form lower highs.
Upon surpassing the trendline resistance, the index began to climb, establishing higher highs and higher lows.
Thanks to this momentum, FADREI successfully broke through its previous resistance and maintained its position above the breakout zone.
As long as the index stays above the 9,400 level, market sentiment is expected to remain bullish.
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