Technical analysis of the QSE index
The QSE index continued with its drop and closed down for the second week, it closed down 3.11% versus last week’s closing. The index is challenging its moving averages, which may act as a support. If the index breaches below the 8,600 level, it could retrace back to the 8,000 weekly support.

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.