Cairo – Mubasher: Analysts expect the Egyptian Exchange (EGX) to continue its upward movement on Wednesday, noting that the benchmark EGX30 index is likely to break above 12,950 points and face 13,020 and 13,130 points.

Market analyst Ibrahim El Nimr said that the EGX30 index is moving sideways after breaking below the resistance level of 13,050 points.

Meanwhile, technical analyst Ayman Fouda suggested that the main index is likely to face resistances at 12,950, 13,020, and 13,130 points, while the support levels are likely to be 12,840 and 12,745 points.

The small- and medium-sized enterprises index EGX70 is likely to face resistances at 597 and 601 points, and has supports at 588 and 583 points, the analyst added.     

The EGX30 rose on Tuesday by 0.55% or 70.53 points to the level of 12,936.59 points.