Cairo - Mubasher: The Egyptian Exchange (EGX)is expected to resume positive performance on Wednesday, as long as the benchmark index EGX30 kept steady above the level of 6,900 points, technical analysts told Mubasher.
"The benchmark targets the levels of 7,200 pts and 7,500 pts respectively," said Mohamed Khadr head of technical analysis at Prime Securities.
The benchmark tested the level of 6,936 points on Tuesday, afterwards it rebounded to close at the level of 7,021 points, added the analyst.
The small and mid-cap index EGX70 targets the level of 390 points, as long as it kept its position above the level of 364 points, noted Khadr.
The main gauge went up slightly on Tuesday, after the remarkable declines it recorded on Monday, amid moderate trading volumes, said Mona Hassan, chief technical analyst at MubasherTrade.
The investors are advised to keep open positions as long as the benchmark moves above the level of 6,900 points.
EGX indices advanced collectively on Tuesday, while the benchmark index EGX30 added 0.56% or 39.17 points to close at 7,021.42 points.
