Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to remain in a sideways to upward trend on Tuesday, noting that the main gauge will likely face resistance at 13,200 points, an analyst told Mubasher.
Technical analyst Ayman Fouda forecast the main index to move sideways, with profit-takings expected to take place during Tuesday’s session.
The benchmark is facing short-term resistances at 13,129 and 13,200 points, and has support at 12,930 and 12,850 points, Fouda said.
The small- and medium-sized enterprises index EGX70 is likely to retest the resistance level of 576 points, before targeting 583 and 588 points, while the support levels are 570 and 563 points.
The EGX closed Monday’s session on a mixed note as the EGX30 rose 1.15% or 148.8 points to the level of 1,306.07 points.
