Free Trial

Bulls Focused On 21-DMA *RES 4:.........>

CABLE TECHS
CABLE TECHS: Bulls Focused On 21-DMA
*RES 4: $1.3430 Hourly resistance Sept 29 
*RES 3: $1.3349 21-DMA 
*RES 2: $1.3343 Low Sept 28 now resistance 
*RES 1: $1.3297 Hourly resistance Oct 2
*PRICE: $1.3275 @ 0430GMT
*SUP 1: $1.3240 Hourly support Oct 12 
*SUP 2: $1.3179 Hourly resistance Oct 12 now support 
*SUP 3: $1.3121 Low Oct 12 
*SUP 4: $1.3074 Hourly support Oct 9
*COMMENTARY: Bulls remain focused on the 21-DMA after the dip below the 55-DMA
($1.3142) was aggressively reversed for a relatively bullish close. Bulls need a
close above the 21-MA to end bearish hopes, shifting immediate focus to
$1.3461-1.3514 and overall focus to $1.36561.3702 where 2017 highs and the bull
channel top are situated. Bears now need a close below $1.3240 to gain breathing
room and below $1.3121 to focus on $1.2995-1.3029.

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.