Short position is still open from March 2019. EGX symbols are pretty interesting to study, the lack of HFT firms is probably the main reason for the perfect alignment with the symbol's fundamental health. The mega industrial boom generated massive investors interest during the past 4-5 years, followed by the COVID crises, EGX suffered major damage however, our...
$EGX30 a threat to break the uptrend that was created 17 years ago. EGX30 is the major index of Egypt stock exchange which showed uptrend from 2002 two major technical sign for downside Head and two shoulders
weekly next move test previous low and start building position to go LONG
A negative Elliot wave scenario for EGX30 under 11000 may go down to 7800 as a first target then down to 6000 but above 11000 will cancel this scenario Sell in May and go away
depending on- monthly trend line for EGX30 and Fibonacci retracement, expected to see EGX30 test 7000 and then bounce. as now EGX 30 RSI14 oversold while still, the market does not have enough confidence to buy.
Besm Elah.. --------------------------------------- "In art he, Thoth, was often depicted as a man with the head of an ibis bird" 999ug.