MSM: Expecting Further Gains

Oman's Muscat Securities Market (MSM) is one of the better looking GCC bourses at the moment. The MSM 30 Index bounced strongly off technical support around 6,150 in the last week of 2009, and could be set for further gains over the coming weeks. Closing today (January 5) at 6,470, we are targeting a short-term move back up to its 2009 high of 6,875, which it set in mid-October.

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