The Egyptian Exchange (EGX) indices are forecasted to continue their mixed performance on Monday, amid investors’ concerns over a capital gains tax, technical analysts told Mubasher.

Traders have recently taken aim at Egypt’s government over a law rolled out last summer which imposes a 10% tax on bourse dividends and capital gains, arguing that it is vaguely worded and is deterring investors.

"The benchmark index EGX30 will mostly resume its downside trend if it moves below the daily resistance level of 8,545 points and will continue towards the support levels of 8,450 and 8,320 points," said Mona Hassan, chief technical analyst at MubasherTrade.

The EGX indices retreated collectively on Sunday, as the benchmark lost 1.26% or 109.32 points to 8,562.97 points.