Technical analysis of the QSE index
The QSE Index closed up another week, marginally, by 0.27% at 10,681.08 vs the week before. The current breach above the downtrend line remains positive but we are still looking for more traded volumes to substantiate such break. The MACD and the RSI are finally moving into the healthy zones. As a result, the current projection on the Index on the weekly chart is on the uptick. Our expected resistance level is placed at 11,200 points and the support remains at 9,500 points.

Definitions of key terms used in technical analysis
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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