Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to continue moving upward on Thursday if its benchmark EGX30 index surpasses the mark of 12,490 points, market analyst Huda El Menshawy told Mubasher.
The analyst said that the main gauge has support levels at 10,265 points and 14,304 points on the short-term.
Technical analyst Ayman Fouda expected the bourse to witness mixed performances by its indices until positive news arise, in order to give blue chips momentum to target new resistance levels.
The EGX30 faces short-term resistance levels at 12,450 points and 12,714 points, and has support levels at 12,347 points and 12,280 points, Fouda said.
The EGX70 index faces resistances at 503 points and 508 points, while its support levels are 494 points and 490 points, he added.
The benchmark EGX30 declined on Wednesday 2.03% or 256.7 points to the level of 12,401.09 points.
