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Bears remain in charge: *RES 4: 1.2784 High...>

CABLE
CABLE: Bears remain in charge:
*RES 4: 1.2784 High Jun 25 and key trigger for bulls
*RES 3: 1.2717/35 High Jul 1 / High Jun 28
*RES 2: 1.2606/41 200-hma/21-dma
*RES 1: 1.2600/06 High Jul 3 / High Jun 17
*PRICE: 1.2507 @ 04:11 GMT July 9
*SUP 1: 1.2481 Low Jul 5
*SUP 2: 1.2441 Low Jan 3
*SUP 3: 1.2439 76.4% 1.1841 - 1.4377
*SUP 4: 1.2351 Low April 10 2017
Cable remains locked in a downtrend, further reinforced by Friday's break of the
Jun 18 low at 1.2506. Recovery efforts too have been shallow reinforcing the
current bearish pressure. Scope is seen for a move towards the Jan 3 flash crash
lows at 1.2441. This low intersects well with a key 76.4% retracement level at
1.2439, suggesting a potentially strong support area. Gains above 1.2600 are
needed to change the short-term outlook.

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