Cairo – Mubasher: EGX indices are likely to see a flat and cautious tone in the last trading session this month, said analysts.
The benchmark edged down by 0.29%, or 23.24 points, to 7,863.58 points against 7,886.82 points yesterday.
Mona Hassan, Chief technical analyst at Mubasher, expected EGX30 to near the significant support mark of 7,700 points, which is recommended for short-term investors to protect their profits.
Today’s session, Mona continued, is likely to see a slide after the main gauge failed to break the resistance level of 7,918 points on a broad selling wave.
Likewise, Pharaohs Research said “we believe that the index will test its 665-670 area, which coincides with the 7,200-7,300 on the EGX 30. If this support area is revisited a short-term rise might occur from there”.
