EGX100 Technical Outlook: Peaking Above the Channel EGX 100 EWI IndexEGX_DLY:EGX100EWImnmabroukw36ixEGX100 Technical Outlook: Peaking Above the Channel 🚀 The EGX100 is currently showing extreme strength, "peaking" outside its established uptrend channel. While the momentum is impressive, the index likely needs to catch its breath next week. Here are the key levels to watch: Correction Level 1 (18,860): A minor pullback to this zone might see some consolidation, but it may not be deep enough to fully reset the current overbought conditions. 🔍 Correction Level 2 (18,355): This is the "ideal" zone for a healthy correction. A dip to this level would touch the middle of the channel, providing the necessary fuel for the next leg of the uptrend. 🛠️ Correction Level 3 (17,956) - RED ALERT: This is the line in the sand. As a very strong support level, it must hold to keep the long-term bullish structure intact. A break below this would signal a trend shift. 🚨 The Bullish Targets: If the index ignores the need for a correction and continues its run, we are looking at the 20,000 psychological milestone, followed by 20,500 (Rumble 2026 target) and the final Fibonacci extension at 21,480. 🎯 If you like my posts, please follow and boost 🙌 🎁 Get a $15 discount on your next subscription: 🔗 https://www.tradingview.com/pricing/?share_your_love=mnmabroukw36ix ✨💸