Free Trial

Bearish Below 21-DMA Despite a brief....>

CABLE TECHS
CABLE TECHS: Bearish Below 21-DMA
Despite a brief look above its 21-dma on Friday the level remained intact on a
closing basis keeping the broader outlook negative. Bulls need a convincing
break of 1.27 (series of previous lows) & the 21-dma to improve the short-term
outlook. A close above targets the 38.2% retracement level at 1.2744, ahead of
the Dec highs at 1.2840. Downside focus remains on a break of 1.25 & ytd low at
1.2478, before challenging the Apr 11 2017 low at 1.2404.

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.