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Downside Focus *RES 4: 1.2516 High......>

CABLE TECHS
CABLE TECHS: Downside Focus
*RES 4: 1.2516 High May 4
*RES 3: 1.2467 High May 20 and key resistance
*RES 2: 1.2340 High May 13
*RES 1: 1.2313 20-day EMA
*PRICE: 1.2229 @ 10:30 BST May 21
*SUP 1: 1.2184 Low May 19
*SUP 2: 1.2076 Low May 18 and bear trigger
*SUP 3: 1.2030 50% retracement of the Mar 20 - Apr 14 rally
*SUP 4: 1.2000 Round number support
The Cable outlook is bearish following the clearance of support at 1.2166, Apr 7
low and recent gains have likely been a correction. The breach of 1.2166
confirmed a range breakout and signals scope for a deeper decline towards 1.2030
next, and the psychological 1.2000 level. A break of 1.2000 would open 1.1884,
the 61.8% retracement of the Mar 20 - Apr 14 rally. 1.2313 is the next
resistance, the 20-day EMA.

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