Cairo – Mubasher: The Egyptian Exchange (EGX) is forecast to keep moving sideways on Tuesday, analysts told Mubasher, noting that profit-taking may allow traders to change positions and pump new blood into the trading activity.
MubasherTrade Research noted that the main index (EGX30) closed Monday below the upward mark ticked a week ago at 12926.07 points on average volumes.
Selling pressures will likely to push the index towards 12,600 once again over the mid-week trading, the research firm expected, advising traders to stop losses if the index delved below the above mark.
Market analyst Ayman Fouda said the main gauge is still moving inside the same channel whose first resistance is at 13,090 and then 13,250, while having support at 12,806 and 12,740 respectively.
