Cairo – Mubasher: The benchmark EGX30 index of the Egyptian Exchange (EGX) is expected to test the level of 12,630-12,500 points on Tuesday as the profit-taking trend is expected to end, an analyst told Mubasher.
Market analyst, Shahd Raafat, said that the index is currently having a support at 12,600 points; breaking above such level will lead to a sideways trend.
Technical analyst, Ayman Fouda, said that the main gauge faces resistances at 12,800-12,970 points and have support levels at 12,630-12,500 points.
The index is likely to test the level of 13,000 points if the session saw strong purchases, Fouda added.
The EGX70 index is likely to test resistances at 520,527 points, while the support levels are 509-503 points, he noted.
The EGX30 index fell yesterday by 1.41% or 182.39 points to the level of 12,740.05 points.
