Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to continue sideways performance during the remaining fourth session of 2016, with the benchmark EGX30 is likely to move between 12,040 points and 12,420 points, technical analysts told Mubasher.
Ayman Fouda, head of capital market committee at the African Economic Council, expected the EGX30 index to test resistance levels of 5,940 and 6,060 points, and support levels of 5,630 and 5,524.
Meanwhile, the resistance levels of EGX70 are 459-465 points, and the support levels are 447-442 points.
Waleed Hilal, Deputy Chairman of Egyptian Group for Securities Brokerage, expected profit-taking to take place before end-2016.
The EGX30 index declined on Sunday by 1.36% or 169 points to the level of 12,251.06 points.
