Saudi Market Retreats Again, Key Supports Under Watch
Naranj Capital Research Desk
The Saudi market witnessed continued weakness last week, with the Tadawul All Share Index (TASI) declining by nearly 2.5%.
After registering five consecutive days of losses, the index closed slightly above the psychological 11,000 mark, which may serve as immediate support.
A breakdown below 11,000 could trigger a further decline toward the key support level of 10,700.
Given the current market structure, the market is likely to remain under a neutral-to-bearish bias in the coming week.
Fresh buying interest is expected only if the index decisively breaks above the 11,500 resistance level.
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