On the weekly timeframe, the EGX100 Equal Weight Index is showing a technically significant structure:
🔹 Touched the midline of the Fibonacci channel for the 9th time, after a confirmed breakout — this midline has acted as a dynamic support zone over time.
🔹 Also testing an ascending trendline for the 3rd time, adding strength to the current support confluence.
📌 A strong weekly close above both the channel midline and the trendline could be the trigger for a powerful rebound, God willing.
This zone might represent a critical inflection point — keep an eye on how price action unfolds in the coming weeks.
🔹 Touched the midline of the Fibonacci channel for the 9th time, after a confirmed breakout — this midline has acted as a dynamic support zone over time.
🔹 Also testing an ascending trendline for the 3rd time, adding strength to the current support confluence.
📌 A strong weekly close above both the channel midline and the trendline could be the trigger for a powerful rebound, God willing.
This zone might represent a critical inflection point — keep an eye on how price action unfolds in the coming weeks.
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