As per the Egyptian Financial Supervisory Authority's regulations and as part of our commitment to providing higher levels of security, Pharos now offers clients security tokens for a specific fee and cost.
The EGX30 Index continued to decline for the second consecutive session and closed Wednesday near the session’s low at 31,030 points.
The Index started to face selling pressure after examining its resistance level of 31,300 points, and the buying power was not strong enough to surpass.
Hence, the Index remains vulnerable to witness further downside pressure, with a possible retest of support levels, in an attempt to find where the buying interest may re-emerge and assessing the potential for rebound.
The first support level to watch lies at 30,800 points followed by 30,650 and 30,500 points.
According to the current market conditions and the weakness of buying power we keep advising short term traders to close marginal exposure and adhere to the protective stop level for each stock.
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