Cairo – Mubasher: Stock market analysts expected the Egyptian Exchange (EGX) to move sideways during Tuesday’s trading, with the benchmark EGX30 index likely to move between 13,300 and 13,600 points until the emergence of a buying power capable of pushing the indices to key resistances.
Market analyst at Mubasher International for Securities Shahd Raafat said that the market's benchmark ended Monday’s session in the red zone to close at 13,432 points as the selling pressures power continued.
Raafat expected the main gauge to move between 13,300 and 13,600 points.
Meanwhile, technical analyst Ayman Fouda expected the EGX30 index to have short-term resistances at 13,493 and 13,518 points, while the support levels are likely to be 13,407 and 13,350 points.
The small- and medium-sized enterprises index EGX70 is likely to face resistances at 660 and 664 points, and has supports at 653 and 644 points, Fouda added.
The EGX30 index fell on Monday by 0.42% or 56.30 points to the level of 13,431.06 points.
