Cairo – Mubasher: The Egyptian Exchange (EGX) is anticipated to see sideways movement on Thursday, technical analysts told Mubasher.
The benchmark index EGX30 is likely to move within the zones of 5,960- 6,000 points and 6,160- 6,240 points, said Ahmed Abdel Hamid, branch manager at Watheeqa Securities Brokerage Co.
“It is anticipated that the main gauge may test the resistance level of 6,135 points,” said Ibrahim El Nemr, head of technical analysis at Naeem Brokerage.
If the benchmark succeeded in surpassing the level of 6,135 points, then it will target the levels 6,300 and 6,500 points, added El Nemr.
On other hand, if the benchmark failed in keeping, its position above the resistance level of 5,895 points, then it will move downward towards the level of 5,650 points, noted the analysts.
On Wednesday, the benchmark gained 0.96% or 57.69 points to close at 6,066.54 points
