Cairo - Mubasher: The Egyptian Exchange (EGX) is forecasted to see positive performance through December, while the benchmark index EGX30 will face resistance at the level of 6,300 points, said technical analysts.
The benchmark movement is correlated to whether it will surpasses the level of 6,300 points or not, noted the analysts.
"The benchmark declined on Monday on selling transactions over most leading stocks, topped by the Commercial International Bank," said Mona Hassan, chief technical analyst at MubasherTrade.
The investors are advised to adopt the stop loss behavior on the short run, if the benchmark moved below the level of 6,300 points, noted Hassan.
The main gauge will face resistance at the levels of 6,420, 6,530 and 6,640 points until it reaches the level of 7,000 points, while will gain support at the levels of 6,300 and 6,260 points through December, said Ayman Fouda, head of capital market committee at the African Economic Council.
EGX indices headed south on Monday, last trading session in November, as the benchmark index lost 1.87% or 121.08 points to close at 6,356.65 points.
