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CABLE TECHS
CABLE TECHS: Back In The Range
Despite staging a sharp recovery yesterday, the pair failed to recover the 1.30
level and has since drifted back into the range. The short-term outlook remains
neutral with bears focusing on a downside break of 1.2854 to regain control.
Below here opens the Jan 21 low & 50% retracement at 1.2831/29, ahead of the
50-dma at 1.2809. Bulls need to clear the 200-dma at 1.3023 to improve the
outlook, with topside focus on a break of 1.3160 which would trigger a bullish
pennant formation.