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Free AccessContinued Fall Looks To.................>
CABLE TECHS: Continued Fall Looks To $1.3925-$1.3902 For Next Guidance
*RES 4: $1.4145 Feb 16 high, 4 week falling res line
*RES 3: $1.4110/15 Hourly basing area Feb 16, now res'tce
*RES 2: $1.4050 Feb 19 high
*RES 1: $1.4000/20 Hourly resistance
*PRICE: $1.3960 @0940GMT
*SUP 1: $1.3921/25 Feb 13 high, hourly high Feb 14
*SUP 2: $1.3902/10 Equality fall tgt, 61.8% $1.3765-$1.4145
*SUP 3: $1.3876 Feb 12 high, now support
*SUP 4: $1.3855 76.4% Fibo of $1.3765-$1.4145
*COMMENTARY* Still falling after losing the confrontation with resistance from
the Feb 5 high at $1.4151 and the 76.4% Fibo retrace level at $1.4158 last week.
Could only manage a $1.4145 high, before accepting some correction of recent
gains. In this respect and with yesterday's loss of $1.4000, now looking at the
prospect of a further $1.3925-$1.3902 fall. Resistance dips to $1.4000-$1.4020
but likely requires back above $1.4050 for real assistance.
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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.