Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to extend, last week upside trend, through Sunday session after Egypt’s Central Bank decision to float the exchange rate of the foreign currency against the Egyptian pound, technical analyst told Mubasher.
“The benchmark index EGX30 will target the new support levels of 8,500 and 8,600 through this week trades, while it will target later on the levels of 9,000 points and 9,200 points, “said Ehab Saeed, head of research at Osool Securities.
As for the small and medium caps index EGX70, Saeed said, he expects the index to move near the support levels of 547 points.
The benchmark closed last Thursday up by 3.35% or 285.85 points at 8810.51 points.
