Cairo – Mubasher: The Egyptian Exchange (EGX) is forecasted to extend upside trend on Tuesday, technical analysts told Mubasher.
The benchmark index EGX30 is expected to test the levels of 6,080 and 6,100 points, said Mona Hassan Chief technical analyst at Mubasher trade.
The positive sentiment is likely to control the market for a while, after the government recent incentives regards Egypt’s stock market, said Ayman Fouda, head of capital market committee at the African Economic Council.
The main gauge will see primary resistance at the levels of 5,950 and 6,080 points respectively, while it will gain support at the levels of 5,730 and 5,800 points respectively, pointed out the analyst.
As for the small and mid-cap index EGX70, Fouda stated that it would see resistance near the levels of 358 and 362 points, while it will gain support at the levels of 339 and 344 points.
