Cairo – Mubasher: The Egyptian Exchange is expected to maintain its sideways movement Tuesday, as investors are still awaiting the trend of regional and global bourses in light of oil prices and U.S. rate decision.
Mona Hassan, chief technical analyst at MubasherTrade, said the main index is still moving sideways between 6,650 points and 6,300 points, adding that a break below the support level would signal a stop-loss point for short-term investors.
Meanwhile, Ayman Fouda, head of capital market committee at the African Economic Council said the local bourse is still dominated by flat performance till having a clearer vision in global peers and until oil prices steady and the U.S. Fed decides on interest rates.
He defined resistance levels at 6,470 and 6,520 points and support at 6,400 points then 6,350 points.
