Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to move higher on Monday after the Central Bank of Egypt decision regarding floating the Egyptian pound, technical analysts told Mubasher.
“The benchmark index EGX30 targets the level of 8,950 and 9,450 points after it broke above the resistance level of 8,600 points,” Ahmed EL Bagory, Head of technical analysis at Okaz brokerage told Mubasher.
The benchmark is expected to adopt an upside trend on the short run, added the analyst.
Egypt’s bourse closed on positive note on Sunday amid the collective gains of the market main indices, as the benchmark gained 6.12% or 539.4 points.
