Free Trial

Bears Need Close Below $1.3373 *RES.....>

CABLE TECHS
CABLE TECHS: Bears Need Close Below $1.3373
*RES 4: $1.3833 Monthly Low Mar 2016 now resistance 
*RES 3: $1.3656 2017 High Sept 20 
*RES 2: $1.3595 High Sept 22 
*RES 1: $1.3549 High Nov 30
*PRICE: $1.3465 @ 0530GMT
*SUP 1: $1.3415 Low Dec 4 
*SUP 2: $1.3373 Hourly support Nov 29 
*SUP 3: $1.3333 Hourly resistance Nov 28 now support 
*SUP 4: $1.3265 55-DMA
*COMMENTARY: Fresh 7week highs lacked follow through last week as the pair
flirts with the LT weekly bear channel top around $1.3440. Bulls look for a
weekly close above to shift focus to $1.3656-1.3833 where 2017 highs are
located. The $1.3373-1.3415 support is key today. Bears need a close below to
ease bullish pressure and shift focus back to $1.3169-1.3281 where key DMAS are
noted. Bulls need a close above $1.3549 to add support to their case.

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.