Dubai – Mubasher: UAE stock markets are likely to target significant resistances ahead of the OPEC meeting next Monday on oil's excess supply and prices, analysts told Mubasher.

The Dubai Financial Market (DFM) is forecast to target the mark of 3,520 points, said financial analyst Mohamed Al-Housni, advising short and mid-cap investors to watch the safety area of 3,480 as the general index will likely decline to the 3,450 – 3400 area if breaking below the above safety mark.

Meanwhile, the Abu Dhabi Securities Exchange is likely face an important resistance level at 4,530 points, said market analyst Fawzi Abdullah.

Any possible rise is seen ineffective unless it is coupled with high trading volumes that foster traders' confidence, said technical analyst Mohamed Al-Harbi.

Traders are recommended to cautiously speculate and to either watch the stop-loss level or hold on their stocks in an attempt to build new positions, namely the outlook for UAE markets remain attractive.