Cairo – Mubasher: The Egyptian Exchange is likely to see new support levels on Wednesday after failing to hold above the mark of 7,645 points.
In the mid-week trading session, the benchmark index EGX30 failed to break above the minor resistance 7,645 points and “is currently facing the minor support 7,500”, said Shahd Raafat market analyst at Mubasher Trade.
“In case of breaking this level, a further drop towards the next support 7,370 could be a consequence”, Shahd added.
Investors are not advised to start new positions as long as the main gauge is moving below the resistance mark of 7,645 points, she concluded.
Yesterday, EGX indices closed on mixed note amid a fluctuating performance and the main index lost 0.42% or 31.68 points to close at 7,596.96 points.
