The Egyptian stock exchange’s (EGX) benchmark index EGX30 is forecasted to break through the level of 9,150 points during Wednesday’s trading, which may push it towards the level of 9,300 points in upcoming sessions, technical analysts told Mubasher.

On Tuesday, the benchmark index EGX30 edged up 0.17% to close at 9,134.78 points.

"The benchmark is likely to move upside towards the level of 9,300 points in the short term, to confirm its position above the levels of 9,030 and 9,050 points," said Ahmed Thabt, head of technical analysis at Tycoon Brokerage.

Similarly, Mona Hassan, chief technical analyst at MubasherTrade, said that if it the benchmark surpasses the daily resistance level of 9,150 points, “it may resume its movement towards the level of 9,260 points; otherwise it will resume its downside trend towards the next support levels."