Cairo – Mubasher: The Egyptian Exchange is forecast to target the 8,158-8,175 area on Tuesday, which will probably confirm the upward trend in the coming sessions, analysts told Mubasher.
The main index EGX30 is facing a central zone ranging from 8,158 to 8,175 points, which will decided whether the main gauge is likely to re-test the pricing channel extending from 7,815 to 8,477 points, said market analyst at EGS Brokers Hoda El Menshawy.
MubasherTrad Research said the EGX30 is testing the falling trend line, which will lead to further rise towards 8,300, if breaking above this line.
The Egyptian Exchange finished Monday’s trading session in the green territory, registering the highest closing since 27 July 2016 amid increasing speculations on the Egyptian pound’s devaluation. The EGX30 gained 252 points, or 3.2%, to close at 8,133.1 points.
