Cairo – Mubasher: Analysts expected the Egyptian Exchange (EGX) to continue its sideways performance on Monday until the buying momentum by institutions and funds on blue chips returns.
Market analyst Ahmed Abdel Hamid said that the benchmark EGX30 is expected to move between a resistance level of 13,140 points and a support level of 12,850 points.
Meanwhile, Shahd Raafat from Mubasher International for Financial Services suggested that the main gauge will move between 13,120 points and 12,860 points in the upcoming period.
Technical analyst Ayman Fouda said that the EGX30 index faces resistances at 13,022 and 13,129 points and has support at 12,850 and 12,745 points.
The small- and medium-sized enterprises index EGX70 is expected to face resistances at 580 and 590 points, and has support at 564 and 555 points, Fouda said.
The EGX30 declined on Sunday by 0.64% or 82 points to the level of 12,912.27 points, while the EGX70 index rose 0.62% to 573.2 points.
