Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to see fluctuating sideways movement on Tuesday, technical analysts told Mubasher.
The benchmark index EGX30 will have support at the levels of 5,880 and 5,800 points, while it will face resistance at the levels of 6,000 and 6,130 points, said Ayman Fouda, head of capital market committee at the African Economic Council.
As for the small and mid-caps index EGX70, the analyst pointed out that it will see support at the levels of 347 and 350 points, while facing resistance at the levels of 347 and 350 points.
“The main gauge is likely to continue its sideways movement between the levels of 5,800 and 6,100 points through the upcoming sessions,” said Mona Hassan , chief technical analyst at Mubasher.
EGX ended in red zone on Monday, snapping a five-day gaining streak, as the benchmark lost 1.4% or 85.8 points, to close at 5,906.9 points.
