$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
Hello Traders! Please support this idea with a LIKE if you find it useful. EGX30- This post does not provide financial advice. It is for educational purposes only.
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
Based upon
"Time Cycle Oscillators" published in IFTA journal 2018.
"Wave Period Zone Oscillator" published in IFTA Newsletter December, 2017.
Expected volatility after the SHI/SHO/WPO/WPZO forms a pressure wave (PW).
the volatility is higher when the PW is longer.
Akram
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.
+1EGX30@
Egypt index returns outperformed all my other assets.. Go Sisi Go ;)
Lets bury more water canals! ^_^
With bread and medicine prices quadrupled in the past couple of months, I'm satisfied that my returns will cover it..
