Speaking Technically - Saudi stock market

During the last year, almost everyone in the Saudi community started participating in the Saudi stock market. The market was in such a major bull up trend that even high school students with no investment background easily made money.

Recently, after the market has retraced more than 100 percent of the previous advance and many people have lost their hard-earned savings, the question remains as to whether technical analysis could have helped in predicting the forthcoming correction. There are those who argue, "Technical analysis can not be applied to the Saudi stock market," these people should know that any student of technical analysis can prove the fallacy of this statement. Technical analysis can be applied to any stock market because it is the study of price action and price action is always reflected in the charts. 

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