Cairo – Mubasher: The benchmark EGX30 of the Egyptian Exchange (EGX) is expected the upward trend on Monday as the correction movement started to decline, analysts told Mubasher.
“The EGX30 index will target 12,956 points, the level which will pave the way for the index to continue its positive performance,” said Hoda El Menshawy, Head of research at Egyptian group securities.
Technical analyst, Safaa Fares, said that the main gauge will face resistance at the levels of 13,000 and 13,200 points, while it will have support at the level of 12,750 and 12,550 points.
Meanwhile, the EGX70 index will face resistance levels of 515 and 522 points, while it will have support at the level of 495 and 487 points.
The EGX30 index rose on Sunday by 0.6% or 77.36 points to the level of 12,883 points.
