Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to see a balanced performance on Sunday amid rising liquidity ratios, analysts told Mubasher.

Ayman Fouda, head of capital market committee at the African Economic Council, said that the EGX would regain balance by the beginning of this week, in line with seeing a wave of profit-takings and collective buying.

The benchmark EGX30 index has a short-term resistance at 13,960 and 14,100 points, while it has support at 13,780 and 13,600 points, Fouda highlighted.

Moreover, the EGX70 index has a short-term resistance at 756 and 773 points, while it has support at 758 and 750 points, he added.

Market analyst at Mubasher International for Securities Shahd Raafat said that the EGX30 index may break resistance above 13,700 and 13,750 points, but it would not change the current weak performance the index witnesses.

Technical analyst at Jazira Securities Brokerage Ahmed Thabet said that the EGX30 index is still seeing a short-term downward trend, but is moving upwardly on the medium and long terms, noting that the medium-term trend is weak.

The EGX30 index has resistance at 13,800 points, Thabet said, pointing out that it may see a temporary rebound between the levels of 14,000 and 14,050 points.

Thabet recommended short-term investors to lower positions at these levels, while long-term investors can keep trading on these levels as long as the index is moving above 12,900 points.