Analysts pointed out that the EGX30 targets to break the resistance level of 11,680 points during this week’s trading, and will then focus on breaking the resistance level of 12,000 points in case it succeeds. Al-Aasar added that the lower level of EGX30 is expected to move at 11,300 points during this week’s trading. He added that the market is expected to see a good purchasing power with maintaining trading near EGP 1.5bn per session. Ehab El-Saeed, head of technical analysis at Osool Securities Brokerage Company, predicted that EGX30 will move near a new resistance level of 11,680 points, then to a resistance level of 12,000 points in case it succeeds. He also expected that the Talaat Moustafa Group shares will take advantage of the support level near EGP 8.25.

Source: Daily News Egypt December 04, 2016 09:20 UTC