Cairo – Mubasher: The Egyptian Exchange is likely to move sideways with a bearish view on Tuesday within the 11,600-12,000 zone, analysts told Mubasher
The main index EGX30 is having support at 11,140 points while facing resistance at 11,690 points, said market analyst Ibrahim Al-Nimr.
MubasherTrade Research said the benchmark ended Monday on a positive note at 11,444 on moderate volume.
"The index is testing a downtrend line on the hourly chart and breaking above it leads to further rising towards 11,680, which happens to be a key resistance level. And in case the index couldn't break above this level, lateral moves will proceed," the research firm added.
Cairo bourse ended Monday in the green zone as EGX30 gained 146.1 points or 1.3% to 11,444.06 points, shrugging off the latest terror attacks.
