Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to resume its sideways performance on Monday, as investors continue their selective behavior over certain stocks, technical analysts told Mubasher.
"The benchmark index EGX30 advanced in Sunday’s session, as it closed at the level of 6,477 points amid weak trading volumes," said Mona Hassan, chief technical analyst at MubasherTrade.
The benchmark will face resistance at the levels of 6,640, 6,700 and 6,900 points respectively, while it will find support at the levels of 5000, 55000 and 6,000 points, noted the analyst.
The market performance on Monday depends to great extent on trading volumes and liquidity, said Hanan Ramsis, executive director at Cairo Securities Brokerage.
EGX indices closed on mixed note on Sunday, as the benchmark index EGX30 added 0.78% to end at 6,477.7 points on the gains of the heavy weight Commercial International Bank (CIB).
