نصيحة مخلصة للجميع

The market continued its medium-term correction wave that dragged the
CASE30 Index slightly below our entry point 9200.00 early this week.
Nevertheless, a new bottom could be seen near the support zone (8850.00
– 8700.00).
This wave has capped a period of expansion that ran from the second half
of 2006 through May 2008 (wave 3); while the current correction is taking
place since May 2008 near the end of "wave 4".
Our short-term outlook for the upcoming weeks suggests a period of
buying action that will prime the market for another wave of growth that
we call it "wave 5" which could see the CASE30 in a target zone (9800.00 –
9900.00).
This wave in the medium-term will be a very strong period of growth that
could see the CASE30 index in the neighborhood of wave 3's highs of
12000.00

Senior Technical Analyst
melaasar@efg-hermes.com