Cairo - Mubasher: The Egyptian Exchange (EGX) indices and sectors are likely to resume positive performance this week, capital market experts told Mubasher.
Egypt will start on Sunday 22 November the second round phase of the parliamentary elections.
The benchmark index EGX30 surged on Thursday, as it closed at the level of 6,568 points and it is expected to resume its upside movement on Sunday, said Mona Hassan, chief technical analyst at MubasherTrade.
"The main gauge confirmed its rebounding above the level of 6,300 points, where it started short-term correction movement to target the levels of 6,600 and 6,800 points respectively," said Sameh Gharib, head of technical research at Roots Securities.
The benchmark adopts downside trend on both the medium and the short run and it is expected to face resistance at the level of 6,650 points, noted Gharib.
EGX indices ended in green territory, on Thursday, as the benchmark index EGX30 added 2.42% or 155 points to close at 6,568.97 points, to hit its most high level in 11 weeks.
