Free Trial

Bears Need Close Below $1.3997 *RES.....>

CABLE TECHS
CABLE TECHS: Bears Need Close Below $1.3997
*RES 4: $1.4286 High Jan 26 
*RES 3: $1.4150 Low Feb 1 now resistance 
*RES 2: $1.4087 High Mar 19 
*RES 1: $1.4059 Bollinger band top
*PRICE: $1.4026 @ 0500GMT
*SUP 1: $1.3997 High Feb 27 now support 
*SUP 2: $1.3951 Alternating hourly support/resistance 
*SUP 3: $1.3899 55-DMA 
*SUP 4: $1.3840 Low Mar 12
*COMMENTARY: The 55-DMA supported last week and has provided the base for a
break of $1.3997 that sees immediate focus on $1.4150 and overall focus on
$1.4286-1.4349 where 2018 highs are located. The Bollinger top is the key
concern for bulls and limits follow through. Bears now need a close below
$1.3997 to ease bullish pressure and below $1.3840 to confirm a break of the
55-DMA and return focus to $1.3710.

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.