Cairo – Mubasher: The Egyptian Exchange is likely to see an upward movement on the short term if breaking the marks of 6,979 points and 7,150 points on Wednesday.

The benchmark is still testing the resistance area ranging from 7,150 points to 7,250 points amid a pricing gap occurred due to Sunday’s steep decline after the shock of Brexit vote, said Ahmed Al Bagory, head of technical analysis department at  Okaz Stockbrokers and Investment.

He expected EGX30 to move in a narrow flat channel today as long as it keeps holding below 7,250 points.

Yesterday, the main gauge EGX30 added 0.41%, or 281 points, to close at the mark of 6,931.9 points, relatively recovering from the shock of Brexit that led the benchmark index to the steepest decline since mid-January 2015 after shedding 5.54%, or 401.70 points, to the mark of 6,851.61 points on Sunday.