1-hour chart, The Egyptian market index EGX30 is rebounding to the resistance line BLUE, from the support line RED. Above 25000, the target will be 26490, passing through the shown resistance levels. Stop loss 24400
we can know that it's trending up just by looking at HH and HL, we also know that the down wave is just a correction in an up trend so we can predict the end of the correction by several things, especially price behavior, and its behaving as a fractal to the previous corrective wave, in this case, we can be sure that a continuation to the upside is nearby, this...
egx30 - till new year and 2024 entry market structure
On the monthly chart, the INDEX EGX30 has crossed up the channel pattern upwards, then the target is 32600 The ascending upper blue line is the profit protection level.
Since my last update, the EGX30 has precisely followed the narrative and wave counts. Right now we are headed to finalize wave 5 of the impulse. In the light of the escalating geopolitical tensions and the 2024 elections taking place in December 2023, there is a possibility for wave 5 to be much shorter than anticipated. Personally, I hope we break the 21000 EGP...
Good reduction of EGX30 indicator and expected correction areas of the chart
The Egyptian Stock Exchange has not risen since its summit in 2008. A real motive rise has returned.. only a corrective sideways rise, and it must drop strongly in the shaded area in order to end all weakness and gather itself to make a strong motive rise like what happened between 2002 to 2008 Please clarify that I am helping you with my point of view, which may...
THE NEXT BULL market up to 2023 ,2024 also devaluation gives Egyptian stock indices a lot of positive
Gann of egx30 long term target 23000 stop 16463 short term
From Technical Analysis in the Vicinity of Financial Physics The buying strength shown by ISTRI decreased with a rate higher than the decrease of buying pressure and buying momentum. This explains the reason for future decline in buying pressure, momentum. PS the momentum indicator is the product of volume and the change in price.
last Thursday, EGX30 witnessed a buying pressure after testing the support that lies at 17750 point, which increases the importance of that support. The major resistance lies at 18143 point, which is the level that the EGX30 needs to break it to above, to confirm the continuation of the major uptrend on medium term basis, which will trigger a new buying signal...
EGX30 on 30-min chart, is on a support level 16600, and should turn upwards. Breaking this level down will take the index to 15600 - 15700 level. However, RSI is positively in the buy region.
After the thirtieth index reached the levels of 9500 points, affected by the successive crises of the repercussions of the Corona virus and the exit of hot money after the beginning of the Federal Reserve interest rate hike. The Egyptian stock market was suffering from severe frustration until the signs of breakthrough appeared from the first of October and...
EGX30 will break the previous resistance at 17750 and the historical resistance at 18400 in 2018 because of the repeated devaluations of the currency against the USD
EGX30 will break the previous resistance at 17750 and the historical resistance at 18400 in 2018 because of the repeated devaluations of the currency against the USD
We had quite an impulsive run on EGX30 since summer 2022 with more than 105% gain however, nothing lasts forever :( We're due for a correction!! In the light of my elliot wave count, we should anticipate wave 4 to correct anywhere between 11 - 30%. I personally expect a 24% correction to meet the golden ratio (0.618 feb) for the retracement, with an invalidation...