The Tadawul All Shares Index (TASI) concluded last week with dull performances across its key indices. The Index loosed 0.03%, accumulate -3.47 points to settle at 12,630.86, the index is currently testing its resistance level with double top formation on weekly time frame. Technical indicators paint a concerning picture. Couple of weekly signals now point towards downside in the coming weeks, with the index potentially targeting a zone below 11,770. In near term, break below pull it towards next support level of 10,910. On the flip side, a weekly close above 12,750 would create upward momentum.
Market Summery
Close: 12,503.69
Change: -3.47
Volume(bn): 2.353
RSI: 70
High: 12,668.91
Low: 12,503.69
Pivots
R-3: 14,707
R-2: 13,344
R-1: 12,656
PP: 11,293
S-1: 10,604
S-2: 9,242
S-3: 8,553
Market Summery
Close: 12,503.69
Change: -3.47
Volume(bn): 2.353
RSI: 70
High: 12,668.91
Low: 12,503.69
Pivots
R-3: 14,707
R-2: 13,344
R-1: 12,656
PP: 11,293
S-1: 10,604
S-2: 9,242
S-3: 8,553