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CABLE TECHS: Flirting With 55-WMA & 21-DMA
*RES 4: $1.3591 200-DMA
*RES 3: $1.3528 High May 18
*RES 2: $1.3491 Hourly resistance May 18, High May 22
*RES 1: $1.3421 High May 24
*PRICE: $1.3408 @ 0220GMT
*SUP 1: $1.3379 Hourly support June 5
*SUP 2: $1.3331 Alternating hourly support/resistance
*SUP 3: $1.3292 Low June 4
*SUP 4: $1.3240 Low May 30
*COMMENTARY: The recovery from 2018 lows sees the pair flirting with the 55-WMA
($1.3413) & 21-DMA ($1.3411). Bulls need a close above $1.3421 to confirm
traction above and shift focus to $1.3591-1.3711 where the 200-DMA is situated.
Support layers building add to bullish confidence. Bears now look for a close
below $1.3331 to gain breathing rom and below f $1.3203 needed to reconfirm the
bearish bias and focus on $1.2995-1.3068 where the 100-WMA is found.