Free Trial

Approaches Next $1.3483-$1.3510.........>

CABLE TECHS
CABLE TECHS: Approaches Next $1.3483-$1.3510 Resistance Band
*RES 4: $1.3586/96 2% volatility band, Sep 22 high
*RES 3: $1.3565 1.618x 1.3027-$1.3338 from $1.3062
*RES 2: $1.3510 76.4% Fibo of $1.3659-$1.3027
*RES 1: $1.3483 1.618 swing of $1.3383-$1.3221
*PRICE: $1.3461 @1025GMT
*SUP 1: $1.3420/25 Hourly support
*SUP 2: $1.3405 Hourly base Nov 28
*SUP 3: $1.3374/83 Hourly base Nov 29, Nov 27 high
*SUP 4: $1.3336 Nov 29 low
*COMMENTARY* Has now broken above both the 61.8% Fibo retrace level at $1.3418
and the upper 1% volatility band at $1.3452 by time today. The latter had been
making a good fist of containing the rise through the latter part of this month.
Now approaching the swing target at $1.3483 and the remaining Fibo retrace level
at $1.3510. In the interim, support rises  to $1.3425-$1.3405, loss of the
latter would caution now and suggest some deeper corrective action required.

To read the full story

Close

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.