Free Trial

Focus Shifts To $1.2995-1.3071 *RES.....>

CABLE TECHS
CABLE TECHS: Focus Shifts To $1.2995-1.3071
*RES 4: $1.3350 Hourly resistance June 14 
*RES 3: $1.3297 High June 15 
*RES 2: $1.3223 Low June 18 now resistance 
*RES 1: $1.3186 Hourly resistance June 20
*PRICE: $1.3164 @ 0220GMT
*SUP 1: $1.3148 2018 Low June 19 
*SUP 2: $1.3071 100-WMA 
*SUP 3: $1.2995 High Sept 1 now support 
*SUP 4: $1.2849 Low Aug 31
*COMMENTARY: Bears take comfort in fresh 2018 & 9mth lows with the close below
$1.3203 confirming immediate focus on the $1.2995-1.3071 support region where
the 100-WMA is noted. The pair has room to move before O/S is an issue although
the Bollinger base ($1.3177) limits follow through. Bulls now need a close above
$1.3223 to gain breathing room and above $1.3350 to return focus to
$1.3446-3528. Bears now need a close below $1.3148 to add weight to their case.

To read the full story

Close

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.