Free Trial

Bounces From Above Key..................>

CABLE TECHS: Bounces From Above Key $1.3763-$1.3756 Support Area
*RES 4: $1.3940/54 6 week res line, 38.2% Fibo retrace
*RES 3: $1.3928/30 Feb 26 low, Mar 6 high
*RES 2: $1.3910/13 Mar 8, Mar 7 highs
*RES 1: $1.3895 Hourly congestion area Mar 6-Mar 8
*PRICE: $1.3878 @0905GMT
*SUP 1: $1.3815/25 Hourly support
*SUP 2: $1.3782 Mar 8 low
*SUP 3: $1.3756/63 Mar 2 low, 76.4% Fibo of $1.3712-$1.3930
*SUP 4: $1.3703/07 1% volatility band, Mar 1 low
*COMMENTARY* $1.3928-$1.3930 resistance capped last week and subsequently bowed
to some pressure from overbought hourly conditions. This saw $1.3847-$1.3817
support give way, although the fall has remained above $1.3763-$1.3756. Loss of
the latter would concern and suggest scope for a deeper correction. Meanwhile,
back above $1.3895 would help, although the congested $1.3910-$1.3954 area, then
stands in the way of a higher $1.4021-$1.4029 rise.

To read the full story



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.