Cairo – Mubasher: The Egyptian Exchange's main index (EGX30) is forecast to test the mark of 8,000 points on Sunday, according to analysts.
The 8,003-25 area is the new central focus of the main gauge on Sunday, said Market analyst at EGS Brokers Hoda El Menshawy, adding the EGX30 is likely to deliver a volatile performance inside a new short-term pricing channel extending from 7,815 points to 8,477 points by holding above this area,
Hesham Hassan, technical analysts at Acumen Securities, indicated that the benchmark index is having support at the 8,000-7,700 area, while facing resistance at 8,300 points.
"In case that the EGX30 steadies below 8,000 points today, the outlook will become negative on the short run", Hassan added.
MubasherTrade Research expected the current declining wave to continue towards 7,920 points.
On Thursday, the Egyptian Exchange saw deeper losses as the EGX30 lost 1.89%, or 153.5 points, to close at 7,979.25 points.
