KUWAIT CITY, Feb 21: In our previous analysis on Muscat Securities Market (MSM30 Index) we said that the index crossed over its 76.4% level of Fibonacci (6,646 point at that time) which acted as a strong support level since then, preventing the MSM30 Index from dropping lower again. Then a higher support line was formed securing the index little below its 2013 year high reached on 28 August 2013 at 6,926 point. Following out last analysis it is seen that the index managed to maintain its uptrend, supported by high trading volume. A long candle stick was formed during the first week of the year and took the index to a higher range not seen October 2008. MSM30 Index is now traded around its new year high and is facing a strong resistance at that level of 7,200 point, where it touched twice last January and failed to cross over. A volume above 230mln shares would be sufficient to lift the index again to test the recent high and maybe have a cross over in the coming short to medium term. The following resistance levels would occur at 7,430 point then 7,830 point, respectively Technical indicators are still positive with some potential for additional increase for the short to medium term. However any drop would then trigger the cashing out signal for short-term investors at levels lower than 7,000 point psychological level, as then the way would be open for additional retreat towards the 76.4% Fibonacci level currently existing at 6,765 point. Medium and long term investors can continue to hold their stocks as long as the index is traded above 6,640 levels for medium-term investors and above 6,310 point for long-term investors.