Technical analysis of the QSE index
Although it was volatile over the past week, the QSE Index dropped by 0.10% this week vs the previous one. Volumes dropped and the market has been trading sideways in the past five weeks. Technical Indicators are flat and we reiterate the support and resistance level between 11,800 and 12,600, respectively.

Definitions of key terms used
in technical analysis
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security’s open and close are practically equal. The pattern indicates indecisiveness, and based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.

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