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Failed Recovery Keeps Focus On..........>

CABLE TECHS
CABLE TECHS: Failed Recovery Keeps Focus On 200-DMA
Despite cable hitting as high as 1.3150 in react to Mfg PMI results yesterday,
gains proved short lived. Bears continue to target a close below the 1.30 & the
200-dma at 1.2975 to extend the downtrend. To regain momentum bulls look to
close above the 50-dma, before challenging the 1.32 level & 100-wma at 1.3222. A
break above here would return the focus to the upside and suggest the large
bottoming pattern remains alive. 

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