EGX 70 EWI — 15M Technical AnalysisEGX 70 EWI IndexEGX_DLY:EGX70EWIIbrahimTarekMarket Structure: Bearish Bias: Short / Sell on rallies Current Price: 21,372.5 🔻 Bearish Setup The index is trading beneath a well-defined descending resistance trendline, with repeated rejection from the trendline and a sequence of Lower Highs (LH). This keeps the short-term structure bearish. Short Entry: 21,375 area Stop Loss: 21,850 TP1: 20,700 TP2: 20,400 TP3: 20,000–20,100 🎯 Key Support 20,726 is the critical support level. A decisive 15-minute candle close below 20,726, preferably followed by a successful retest from below, would confirm the bearish continuation and increase the probability of reaching 20,400 → 20,000. ⚠️ Invalidation The bearish setup becomes invalid if price breaks and holds above the descending trendline, particularly with a 15M close above 21,850. Above that level, the market could shift toward a bullish recovery with potential targets around 22,000–22,200. 📊 Risk Management Entry: 21,375 SL: 21,850 → Risk = 475 points TP1: 20,700 → Reward = 675 points Approx. R:R = 1:1.42 🔥 TradingView Conclusion BEARISH BELOW THE DESCENDING TRENDLINE SELL 21,375 → SL 21,850 → TP1 20,700 → TP2 20,400 → TP3 20,000 The 20,726 breakdown is the key confirmation trigger. Until that support is decisively broken, expect potential volatility and short-term rebounds from the support zone. Setup Rating: 7/10 — Bearish, but confirmation below 20,726 significantly strengthens the setup.