Cairo – Mubasher: The Egyptian Exchange is forecasted to extend a rally on Tuesday, where the benchmark is foreseen to test the levels of 6,060 and 6,300 points, technical analysts told Mubasher.
The market is likely to continue the short-term upside trend with the benchmark index EGX30 targeting the levels of 6,100 and 6,150 points, said Ahmed Abdel Hamid, branch manager at Watheeqa Securities Brokerage Co.
Meanwhile, the small and mid-caps index is anticipated to test the level of 360 points, he noted.
Egypt's Central bank governor Tarek Amer dismissed recently any intention to float the Egyptian pound, unless that the country's foreign reserves reach $30 billion, said Khaled Nagah, Head of Trading at Mega Investment brokerage.
The Central bank governor’s statement had positive impact on the market sentiment, added the analyst.
On Monday EGX30 went up 1.3% or 78.6 points to close at 6,086.5 points
