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Free AccessAbove $1.3343 To Shift Focus Higher.....>
CABLE TECHS: Above $1.3343 To Shift Focus Higher
*RES 4: $1.3514 High Sept 26
*RES 3: $1.3470 LT Weekly Bear channel top
*RES 2: $1.3461 High Sept 27 now support
*RES 1: $1.3343 Low Sept 28 now resistance
*PRICE: $1.3329 @ 0530GMT
*SUP 1: $1.3309 Hourly support Nov 22
*SUP 2: $1.3277 Hourly support Nov 22a
*SUP 3: $1.3208 Low Nov 21
*SUP 4: $1.3170 Low Nov 17
*COMMENTARY: Pressure has returned to the upper end of the broad $1.3024-1.3343
range that has defined since early Oct. The close above the 55-DMA ($1.3256)
adds support to the bullish case but a close above $1.3343 remains needed to end
sideways trading and shift immediate focus to $1.3461-70 where the LT weekly
bear channel top off 2014 highs is noted. Bears now need a close below $1.3277
to ease bullish pressure.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.