Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to see a calm sideways trend on Wednesday, analysts told Mubasher.

The EGX is expected to maintain a sideways trend over the remaining two trading sessions ahead of the Eid Al Fitr holiday, head of capital market committee at the African Economic Council Ayman Fouda said.

The benchmark EGX30 index has a short-term resistance at 16,100 and 16,336 points and support at 15,874 and 15,780 points, he highlighted.

Meanwhile, the small- and mid-cap EGX70 index has a short-term resistance at 803 and 815 points and support at 785 and 772 points, Fouda indicated.

For his part, customer relations manager at Arabeya Online Michael Mamdouh Naguib said that the EGX concurred with the ongoing sideways movement, projecting that it would end after the Eid Al Fitr holiday.

He added that the EGX30 has main support at 15,900 and 15,780 points, while its resistance will be seen at 16,209 and 16,400 points.