Cairo – Mubasher: The Egyptian Exchange is expected to rise to the next resistance level of 6,900 points if it maintains its position above the 6,640 level amid strong liquidity, according to technical analysts.
The main index continued volatile trend last week, said Sameh Gharib, head of technical research at Roots Securities, adding that the index may rebound from the 6,600 level to re-test 6.900 points.
The analyst also noted that the index is moving in a medium-term sideways trend, yet in a short-term correction.
Mona Hassan, Chief Technical Analyst at MubasherTrade said EGX30 would face resistance at 6,640, then 6,900 and 7,200 points, while support levels stand at 6,600 points, then 6,300 points and 6,000 points.
