Stocks Test Resistance, But Caution Remains

While on a technical basis, the Tel Aviv-100 Index is poised to break through short-term resistance, we remain medium-term bearish Israeli stocks due to poor prospects for the all-important high-tech exports sector. Looking at the daily chart, the TA-100 is testing short-term resistance at 630, a break through which could presage a move towards 720. The weekly chart reveals the extent of the market's losses so far this year, suggesting that it could be in line for a bounce.

To read the full article, please choose one of the following options: