Cairo – Mubasher: The Egyptian Exchange is likely to move upwardly if breaking above 8,493 points, according to analysts.
The market's main index closed Sunday unexpectedly on a negative note at 8,432 points on average volume after it managed to break above 8,612 points, said MubasherTrade Research.
"A shooting star candle has been formed by EGX30, while testing key resistance level 8,480, which points to weakness in the bulls side", the research firm indicated.
Market analyst Hoda Al-Menshawi said the 8,493 zone is the new central focus of the benchmark index, which will reveal whether the main index tests higher marks or reverses to its bullish jittery performance.
Investors are not recommended to step in unless a valid breakout takes place, the research agency concluded.
