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CABLE TECHS: Bulls Need Close Above 1.31/50-DMA
Cable briefly took out 1.31 yesterday, before post FOMC dollar demand pared
light gains. Bulls look for a close above this level & the 50-dma to accelerate
the uptrend towards cloud top resistance at 1.3161. Above here opens the 38.2%
fibo at 1.3181, ahead of a run at the 1.32 area. On the downside bears need to
clear the 100 & 200-dma's at 1.2981/59, before returning the focus to the 1.29
level and Apr 26 low at 1.2866.