Sunday, November 01, 2009

EGX30 01Nov2009

EXG30 declined before reaching the previous proposed target @ 7550.

This has made the market a bit sharp and un-expected for some (me among them).

The support area between 6750 (38 Fibbo) and 6730 (previous buy level) should slow down the declining momentum (which already slowed down). Still, NOT sure it can stop it completely.

OCIC should lead the way as expected.

I feel I cannot say much more regarding this index. Many now think it is enough to analyze OCIC, then do the EGX70.

I would recommend going through HRHO and OCDI.

EGX30 01Nov2009

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