Following on my previous bullish outlooks on the United Arab Emirates and Saudi index's
I figured why not examine what's going on in other parts of the region.
And lo behold Qatar also appears to be a major bullish stance.
You can see the positive market structure
and also a potential rising wedge in formation.
Let's keep an eye on this index over the coming years.
As you can see from the chart the historical trenline from the year 2000, recently the trendline have been tested when the index dropped to 9600.
I'm observing the following :
1- Alot of people calling for 8000 (2020 bottom).
2- Monthly RSI in oversold territory.
3- Alot of Qatari stocks is trading at lowest historic prices.
Usuallly the following occurs...
Dear Qatari traders, as you can see on the GNRI 30min chart, the price pulled back numerous times before managing to make a fake breakout to come up and follow the VWAP on its way up.
TP and SL set them at your own risk!
Cup & Handle breaking while bullish bat showing decent chance to make a higher bottom than July one
making sense that we're drawing a triangle >> boring period ahead
In the last week, the market has been flat trading in the range of QAR 13350-12750, Where Real Estate sector has been dropped by 8.7%. looking into weekly time frame chart we have seen Symmetrical triangle formation. we may see slightly downside movement in #QE Index, As of now QAR12500 and QAR 12000 could be the initial supports for #Qatar Index. we have also...
