Kuwait Stock Market reached support, Now what?

Kuwait Stock Market reached support, Now what?   On May 17, 2016, we wrote an article on the Kuwait stock market and gave a warning how it had potential to start moving to the support at 817.80.    Here is the article https://www.ichimokutrade.com/c/?p=10500.

We have not reached the support we outlined in the article and are at a very critical point for the market.

Below is the current weekly chart provided by eSignal.   Notice, there is no direct real supports directly below price.   The weekly is trying to retest the lows.1

2016-06-02_weekly

Below is the daily chart.   The daily has a couple of past supports which are show.       2016-06-02_daily

In summary, the weekly is trying to push price to retest the lows.    There are some daily minor supports along the way.

 

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About the Author Manesh Patel