MPRC timeframe: 2 hours Identified a bearish Gartley pattern with:
- Sell point: ~36.00
- Targets: T1 at 34.30, T2 at 33.00
- Stop loss/rebuy: 36.60
If prices close above 36.60, the next resistance at 37.33 (1.618 extension of XA) could serve as another sell point. All data is on the chart.
The MACD shows a negative signal, supporting the bearish outlook. Meanwhile, EGX30/EGX70 are hitting new highs, which might push prices higher.
Given the multiple scenarios, adhere to stop losses or rebuy points to protect profits and minimize losses.
Disclaimer: Not investment advice; consult your account manager before acting. Good luck.
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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.