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CABLE TECHS: 50-dma Proves Magnetic
Thursday's lows were never really challenged during the Friday session, snapping
a two-day losing streak as better retail sales figures helped to support the
price. The 50-dma will remain key at the close (currently sits at $1.2819), and
a close below will cement the near-term downtrend. Bulls need a close above the
100-dma & Feb 7 high at 1.2876/96 to bring the 200-dma at 1.3006 into view.
Topside focus remains on a break of 1.3160 which would trigger a bullish pennant