EGX30 - Egyptian market index - good news
#EGX30 - time frame 1 DAY
created 2 Bullish pattern ( Gartley and AB=CD ) , Action price in this point already done ,but in anther hand we are still in a downtrend targeted 28050 to 27000 unless closed weekly uber 32200 .
now we have a chance to improve our investment as follow :
Entry level at 28515 ( already done , closed today at 28967 )
Stop loss 28515 ( daily close , may index achieve this target but close uber it )
First target at 29700 ( if index close uber 29700 it will be good support )
there is resistance point at 30200 before achieve next target
Second target 30500
Third target 31000 ( if index achieved this target and closed weekly uber it , It will be a good indicator of the beginning of entering an upward phase and the end of the decline )
NOTE : this data according to time frame I DAY ,
NOTE ; EGX30 still have lower target up to 27000 so my advice is don't be Very optimistic but be careful .
Its not an advice for investing only my vision according to the data on chart
Please consult your account manager before investing
Thanks and good luck
created 2 Bullish pattern ( Gartley and AB=CD ) , Action price in this point already done ,but in anther hand we are still in a downtrend targeted 28050 to 27000 unless closed weekly uber 32200 .
now we have a chance to improve our investment as follow :
Entry level at 28515 ( already done , closed today at 28967 )
Stop loss 28515 ( daily close , may index achieve this target but close uber it )
First target at 29700 ( if index close uber 29700 it will be good support )
there is resistance point at 30200 before achieve next target
Second target 30500
Third target 31000 ( if index achieved this target and closed weekly uber it , It will be a good indicator of the beginning of entering an upward phase and the end of the decline )
NOTE : this data according to time frame I DAY ,
NOTE ; EGX30 still have lower target up to 27000 so my advice is don't be Very optimistic but be careful .
Its not an advice for investing only my vision according to the data on chart
Please consult your account manager before investing
Thanks and good luck
Note
Note
Frist target achieved Note
Second target achievedTrade active
all targets achieved also RSI is 67 very good that support the currant direction
MACD is very good and also support the uptrend ,
so if index closed weekly uber 31000 may it will be end of downtrend
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.