Abuhiba82

Abuhiba82

support and resisance level for clarification - EGX

Abuhiba82

A format of a range in between 97.22 as a low and 138.32 as a high in a perfect economic storm: Pandemic shutdowns. Supply chain breaks. Trillion in money printing worldwide. War on fossil fuel. Ukarine War. Russia energy ban. Wheat exports broken. Rising interest rates. Incompetent politicians. Soaring debt Corruption Fraud

Abuhiba82

EGX drop 1.8% and loss 9.5 billion EGP as we see EGX 30 break a support level at 10447.224 and closed the last week at 10007.500 moving towards the next support level at 9770.669 but in the last three days it begin a rebound and closed at 10235.400

Abuhiba82

A resistance level close enough to the price, may be a short appear after retest the level.

Abuhiba82 Updated 

Against the trend

Abuhiba82 Updated 

after opec+ meeting and the short, price hike again and it seems to make a higher hight.

Abuhiba82 Updated 

it seems a true rejection take place leading for a hike and may be to a rally.

Abuhiba82

As a point on the upper triangle formatted. and a breakout near the structure near 1920.000 level. check lower time frame for best entry, and recommended a tight S.L. near 1790.596 wish best luck and an emotional free decision.

Abuhiba82 Updated 

After losing about 7% in the past short sale, there is a chaneel formating target to get some correction.

Abuhiba82 Updated 

check lower time frame for entrie and exit.

Abuhiba82

and format a range in between

Abuhiba82

but it can refuse the idea of regression and get down from the resistance.

Abuhiba82

for the apple lover

Abuhiba82

DXY format a new support level at 90.394 And lose the momentum after the over sold of the US currency. so there is a small demand zone required for correction. flagged.

Abuhiba82

retest a resistance and back targeting 1766

Abuhiba82

manage the risk before any entry.

Abuhiba82

long is acceptable according to relative strength index - we still not get to the overbought zone at the same time, the price still in a channel.

Abuhiba82

short as it seems momentum still exist.