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Tadawul market slips as Sabic tests SR90-support level
- Saudi Arabia: Wednesday, May 01 - 2013 at 16:55
The Tadawul All-Share Index declined insignificantly on Wednesday and closed at 7,175.36 points. Saudi Basic Industries Corp. or Sabic, the KSA market bellwether and world's first petrochemicals producer, declined 0.55% to SR90.75. The shares tested the SR90- level on April 21 and Dec. 30 2012. Emprirical evidence in chart analysis shows that support levels usually weaken the more often they are tested.
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Gérard Al-Fil, Financial JournalistWednesday, May 01 - 2013 at 16:55 UAE local time (GMT+4)
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