Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to perform positively on Thursday and retest 16,000 points, analysts told Mubasher.
The main indices of the EGX closed Wednesday in green territory as the benchmark EGX30 index finished the session near 16,000 points, customer relations manager at Arabeya Online Michael Mamdouh Naguib said.
He highlighted that the EGX30 has main support at 15,780 and 15,500 points, and has main resistance at 16,000 and 16,100 points.
The index may see a short-term bullish trend over the coming period if it breaks 16,100 points and move towards 16,400 and 16,670 points, he stressed.
The index could move sideways between 15,780 and 16,100 points if it does not surpass the aforementioned level, Naguib noted.