Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to resume the upward correction movement on Sunday, with the benchmark EGX30 index forecast to target resistances at 12,400 points and 12,600 points, market analyst Ehab Saied told Mubasher.
The small- and medium-sized enterprises index EGX70 will face resistance at 470 points, then an upward correction movement to 485 points, Saied added.
Hesham Hassan, head of technical analysis at Acumen for Securities, suggested that the index has no clear resistances as long as it remained below the previous peak at 13,525 points.
However, technical analyst Ayman Fouda said that the EGX30 index faces resistances at 12,450 points and 12,630 points, while having support at 12,240 points and 12,040 points.
The main gauge rose on Thursday by 2.6% or 311.7 points to the level of 12,310.49 points.
