Prepare the Saudi Market for a bullish increase?

The Saudi Stock Exchange seems to be prepared for a new phase after the main index “tassi” regained its momentum above the 11 thousand points level, which opens the door to a fundamental question. Is the market folded the page of the last retreats? The financial analyst in Al -Sharq, Mohamed Zidan, believes that the short -term trend of the index has become upward, despite some of the profits he described as ‘justified’ when he affected the 200 days average. He adds that the number of expertise houses recommended to buy the purchase with price goals to exceed 14 thousand points, increasing confidence in the continued positive direction. But View is on its way to an important level of resistance at 11500 points, as Zidaan indicates that any closure above this level can release a positive signal with the return of institutions’ money and continuing the rising road, not only in the short term, but also in medium and long term, which is probably the most likely scenario. Despite its expectation that the market remains vulnerable to fluctuations and phased profits, the bet remains, according to its expression on the ‘rising prize behavior’ as it is the latest trend. The banking sector in the test, as far as the banking sector is concerned, explains that the sector index is currently testing a central resistance at 13 thousand points. This level was on a target for a while when the index traded almost 12 thousand points. Zidane links this achievement to the Sipur rates, as he sees that the decline below 5% means to enter the interest in a falling wave, which is positively reflected in the banking sector and thus on the “Tassi” index.