Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to maintain profit-takings during the coming trading sessions amid traders’ anticipations of new catalysts, analysts told Mubasher.

The EGX is likely to carry on profit-takings, which showed over the past sessions amid foreign selling, pressured by the geopolitical factors that pushed the Middle East bourses in general down on Sunday, market analyst Ahmed Abd Al-Hamid said.

Positive news may bolster the EGX over the coming period and encourage investors to pump more liquidity that boost the market up, Abd Al-Hamid added.

Ayman Fouda, head of capital market committee at the African Economic Council, forecasted the benchmark EGX30 index and the EGX70 index to see an upward trend on the short and medium terms.

The EGX30 index has short-term resistance at 13,780 and 13,850 points and may test the levels of 13,960 and 14,000 points, Fouda noted, adding that the index has support at 13,620 and 13,544 points.

The EGX70 has a short-term resistance at 765 and 773 points and has support at 750 and 744 points, he pointed out.