Daily Technical Report on 24 June 2009
24 Jun 2009 07:50 PM
The Egyptian exchange index EGX 30 gone up today by the beginning of the session reached the area of 5672 then began to decline again and reached the area of 5586 because of the profit taking action triggered o the whole market today , accompanied with relatively modest volumes , if the market continue witness the profit taking action it will go for the area of 5,512 then 5,388 – 5,353 then 5,126 , on the other hand if the index bounce high again it will target the area of 5,921 then 6,196 then 6,379 then 6,417 then 6,781 then 7,000 – 7,140 then the level of 7,500 , generally we still see the index in a major sideways on the medium term and on the short term it is in a minor uptrend
