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Dubai market dips slightly, but defends key support line

The DFM General Index ended off 0.16% Wednesday, closinga at 1,452.18 points. Market bellwether Emaar slipped 0.35% to Dhs2.83, while Arabtec Construction edged 0.36% higher to reach Dhs2.82. Despite the 6th decline in a row, the DFM gauge did not break down through 1,450 points, which EFG Hermes says is a key support level, and its could be pivot element in fulfilling a reverse "shoulder-head-shoulder"-pattern, in case the Dubai market bounces back. Trading volumes declined once more, as only 36m worth Dhs46.2m changed hands.