CHART OF THE DAY: EGX30
The long-term investor must monitor these two levels!
By Markets Chimp
1/1/18 10:19 PM
Monthly Chart:
(Click on the chart to ENLARGE)
- The monthly chart of the Egyptian Stock Market Index (EGX30) shows clearly a very important technical manifestation; the current rising channel (blue lines).
- The rising channel indicates that the index has an active target near 16,000, near which the long-term investor should take some profits.
- On the other hand, the only major bearish signal will be triggered only after a decisive breakout below 13,500, and this means that as long as the index keeps rising over this level, the long-term investor should not get worried!
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