Cairo - Mubasher: The Egyptian Exchange (EGX) is forecasted to witness a positive performance through the first week of 2016, technical analysts told Mubasher.
The benchmark index EGX30 may test the levels of 7,200 and 7,400 points throughout the upcoming sessions, said Mona Hassan, chief technical analyst at MubasherTrade.
"Investors are advised to buy in dips and to keep their current positions," said Hassan, adding that the market has support at the levels of 6,300, 6,640 and 6,900 points respectively, while it will face resistance at the levels of 7,200, 7,400 and 7,550 points respectively.
The main gauge is expected to continue its short-term correction movement, where it targets the level of 7,250 points, said Ehab Saeed, head of research at Osool Securities.
The benchmark advanced 2.84% or 193.36 points on Thursday, the last session in 2015, closing at the level of 7,006.01 points.
