Mubasher TV
Contact Us Advertising   العربية

EGX benchmark likely to test 7,200 pts - Analysts

EGX benchmark likely to test 7,200 pts - Analysts
Photo Credit: Arabianeye-Reuter

Cairo - Mubasher: The Egyptian Exchange (EGX) forecasted to resume its jittery sideways trend on Wednesday, while the benchmark index EGX30 may test the support levels of 7,150 and 7,200 points.

"The benchmark drifted down slightly, on Monday, amid thin trading volumes as it closed at 7,239 points and it is currently on its way to test the secondary support level of 7,200 points," said Mona Hassan, chief technical analyst at MubasherTrade.   

EGX announced that Tuesday, October 6, is an official holiday on celebrating the Six of October victory.

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, said Ayman Fouda, head of capital market committee at the African Economic Council.