Cairo – Mubasher: The Egyptian Exchange (EGX) is forecast to keep moving sideways, said analysts, expecting the upward trend to continue if the main index shoots above the 11,433-11.481 area on Wednesday.
The benchmark index EGX30 is facing resistance at 11,444 points first and then at 11,530 points, while having resistance at the 11,210 – 11,103 area, said market analyst Ayaman Fouda.
MubasherTrade Research said, the index declined slightly yesterday to close at 11,385.
“It is expected to resume rising towards 11,680”, the research agency added.
On Tuesday, Cairo bourse closed on negative note amid selling pressures by local investors. EGX 30 slide 0.48% or 54.6 points to close at 11,389.4 points.
