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CABLE TECHS
CABLE TECHS: Broken Trendline Support
Cable has broken below the up trendline support from the August lows and the
50-dma (both at 1.3009). The Oct 4 lows at 1.2922 provide the next level lower
with the 61.8% short-term retracement level at 1.2905. In terms of longer-term
support, the 61.8% retracement from 2016 lows to 2018 highs is at 1.2810 with
the 2018 lows at 1.2662. To the topside if the 100-dma at 1.3088 and bulls need
to close back above 1.32 to regain momentum, before targeting the Sep 20 high at
1.3298.