Technical analysis of the QSE index
The Qatar Index inched higher and gained 0.88% over this week versus the previous. Another small indecision candlestick was created for the week; this indecision comes at an important level (just below the 10,500). The vision on the possible direction of the next move remains vague; indicators are growing flatter by the week.
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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