Free Trial

Bearish Below 1.3050 Friday's close.....>

CABLE TECHS
CABLE TECHS: Bearish Below 1.3050
Friday's close below the Sep 24 low puts bears firmly in charge, extending the
decline toward the 1.3000 area and suggesting a bearish reversal pattern is
forming. Downside focus turns to the 50-dma at 1.2983, a break here targets the
Sep 5 low at 1.2786, ahead of the ytd low at 1.2662. Bulls need to reclaim the
100-dma to change the short-term outlook, before targeting the 1.3200 level
ahead of 1.3317 which represents the 38.2% retracement of the 2018 range.

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.