Does the Saudi Stock Exchange Cap the High Gulf after cutting a major resistance level?

The Saudi Stock Exchange ascended yesterday and entered the most important resistance level and accompanied by trade values, which are the highest in about a year, with the support of the emergence of communication shares, and the continuation of the momentum in the property sector for the second day in a row. Questions arise as to whether this performance paves the way for an upcoming marketing wave to the market, which has moved in a cross range. The “Tassi” index ended the dissertation by 0.4% profits yesterday, exceeding a major resistance level at 12400 points, after the increase of real estate management and development sector 1.7%, communications 1.6% and banks 0.5%. According to Mary Salem, the financial analyst of “Al -Sharq”, the liquidity distributed in the market is 9 billion Riyals, which is the highest level since the first quarter of last year. The most prominent shares are nowadays attention to the arrow of “Saudi Communication” (STC), which rose 2.24% yesterday after the company signed a contract with a government agency worth 32.6 billion Riyals to build, operate and provide and provide communications. We will also follow the shares of “Jabal Omar” and “Makkah Construction”, which continued its profits for the second consecutive session to close 7.5% and 4.3% respectively. Also read: Saudi -meets property shares are recovering after facilitating foreigners, and the story of the property sector shares is against the backdrop of the Capital Market Authority announcing that foreigners can invest in listed companies that have permanent or temporary real estate within the cities of the cities. The share of the “Saudi Investment Bank” also comes into the spotlight after the bank announced yesterday that its net profits are growing by 11% last year. The stock closed, fell 0.8% before the results were issued. “The growth of the profits of the investment bank gives an indication of the results of the entire sector. We are waiting between Wednesday and Sunday at the release of the results of Al -Rajhi Bank, and I expect there to be a strong momentum in this period,” according to Salem. Expected data and attention are aimed at the “Federal Reserve” decision on interest, amid the restoration of US shares after a historical decline in the first sessions of the week. The federal decision will be issued later in the day, after the Saudi market trading has ended, amid expectations to install it after the data showed earlier in the month that inflation in the United States delayed in December last year. Next Friday we are awaiting the announcement of reading the personal consumption cost index in the United States. Also read: The opposite of Europe. The power of the US economy does not support changing interest, and Ahmed Al -Brashid, the first financial analyst in the newspaper “Al -iqtisadiah”, said that “federal data and consumer expenses play a role in the monetary policy that will have the financial results of the financial markets.