Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to witness profit taking on Wednesday as the benchmark index EGX30 breaks above the level of 13,000 points and targets the resistance level of 13,500 points, said Mohamed Khadar, technical analyst.
“The benchmark met its midterm target that is located at the level of 13,000 which may trigger it upwards towards the levels of 17,000 and 18,000 points on the long term,” added Khadar in a statement to Mubasher.
In the same vein, Ahmed EL – Bagory head of technical analysis at Okaz brokerage said,” the benchmark adopts upside trend during the upcoming period towards the level of 13,100 points.”
EGX benchmark closed on positive note on Tuesday up 1.83% at 13,014.5 points.
