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CABLE TECHS: Edges Back Below 1.31
Following the firm close Friday, cable consolidated for much of the Monday
session, retreating back below the 1.31 mark alongside the US open. Nonetheless,
there are still positive signs following break higher last week. Wednesday's
high acts as the first target at 1.3102. Holding above here would shift focus to
the April 3 high at 1.3196. A close below 1.31, however, would trigger bearish
signals opening the 200-dma & 61.8% retracement level sit at 1.2959/56. Expect
further support from the Apr 30 low at 1.2926, ahead of a run at the 1.29