DUBAI, March 8 Stock markets in Dubai and Qatar
may test technical support on Wednesday as oil prices stay
within a tight range around $55.50 a barrel and global shares
offer little direction.
MSCI's broadest index of Asia-Pacific shares outside Japan
is up by a quarter of a percent but Wall Street
slipped overnight and U.S. stock futures are slightly lower.
Qatar's index, last at 10,417 points, dropped on
Tuesday below major technical support at around 10,500 points,
where the February lows coincide with the December peaks. It may
now test support at 10,324-356 points, where the 100- and
200-day averages coincide.
Dubai's index, last at 3,502 points, is testing
support at the late December lows around 3,500 points. Any break
would point down to a test of the 200-day average, now at 3,360
Saudi Arabia's index may continue moving sideways,
as it has for six weeks. However, Advanced Petrochemical
goes ex-dividend on Wednesday.
(Reporting by Andrew Torchia)