Technical analysis of the QSE index
The Index closed down another week, this time by 1.48% from the week before and now it sits at 9,106.19. Weakness continued but the good news is that the Index reached around the 9,000 level which we have expected and it is considered as a strong support. We would like to see a reversal signal around here to see a relief rally. Our expected resistan


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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