Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to move upward during Thursday’s trading as the benchmark EGX30 index is likely to test the level of 12,700 points.
Market analyst at Mubasher International for Securities Shahd Raafat said that the main index closed Wednesday’s trading at 12,603 points amid low trading volumes, and is expected to advance to 12,700 points.
Meanwhile, technical analyst Ayman Fouda expected the EGX30 index to have short-term resistances at 12,629 and 12,745 points, while the support levels are forecasted to be 12,525 and 12,470 points.
The small- and medium-sized enterprises index EGX70 is forecast to face resistances at 590 and 597 points, and have support at 582 and 577 points, Fouda added.
The main gauge rose on Wednesday by 0.58% or 73.24 points to the level of 12,603.56 points.
