EGX70 witnesses an healthy correction short-term move, and that after creating a new peak that lies at 3764 point. And on last Thursday, the EGX70 closed above the level 3450 point which constitutes the 38.2% of Fibonacci retracement level, then the breaking of that level to downside, will lead to targeting the level 3350 point, which constitutes the 50% of Fibonacci retracement level.
Then this correction will consider as a buying chance with the first rebound from either of these two mentioned levels.
The stop loss will trigger under level 3250 point.
Then this correction will consider as a buying chance with the first rebound from either of these two mentioned levels.
The stop loss will trigger under level 3250 point.