Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to carry on the upward trend during the first trading session of November, analysts told Mubasher.
The indices of the Egyptian bourse are likely to rebound positively on Thursday, head of capital market committee at the African Economic Council Ayman Fouda said.
The benchmark EGX30 index has resistance at 13,378 and 13,470 points and has support at 13,170 and 12,991 points, Fouda highlighted.
As for the small- and mid-cap EGX70 index, he added that it has a short-term resistance at 703 and 712 points, while it has support at 688 and 666 points.
For his part, head of technical analysis department at Arabeya Online Michael Armia said that the EGX30 will move downwardly in the short- and medium-term and will see a sideways trend in the long-term.
Armia noted that the index has main support at 12,830, 12,700, and 12,620 points, while it has resistance at 13,275, 13,435, and 13,600 points.
