Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to continue its sideways movement on Monday on thin liquidity and absence of buyers.

"The benchmark index EGX30 resumed its downside trend on Sunday, as it closed at 7,263 points on lackluster trades, which also hindered it from moving above the resistance level of 7,325 points,” said Mona Hassan, chief technical analyst at MubasherTrade.

"The market is likely to extend jittery trades on Monday, until the appearance of purchasing power that pushes the stocks and indices to its primary targets," said Ayman Fouda, head of capital market committee at the African Economic Council.

The benchmark will face resistance at the levels of 7,325 and 7,370 points, while it will gain support at the levels of 7,200 and 7,120 points, noted the analyst.

On Sunday, the benchmark went down by 0.65% to 7,263 points, as it hit its seven - sessions low amid lackluster trades and absence of positive catalysts.