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Fresh cycle low: *RES 4: 1.2382 Low Jul 17....>

CABLE
CABLE: Fresh cycle low:
*RES 4: 1.2382 Low Jul 17
*RES 3: 1.2250 High Jul 31
*RES 2: 1.2210 High Aug 6 and key resistance
*RES 1: 1.2152 High Aug 9
*PRICE: 1.2031 @ 04:38 GMT Aug 12
*SUP 1: 1.2015 Intraday low
*SUP 2: 1.2000 Psychological round number
*SUP 3: 1.1986 Low Jan 16 2017
*SUP 4: 1.1971 Bear channel base drawn off the May 6 high
Cable remains in a clear downtrend with a fresh trend low printed overnight.
Recent recovery efforts have so far remained shallow keeping the longer-term
downtrend intact. Friday's break of support at 1.2080, the Aug 1 low also
confirmed a resumption of the downtrend. This brings the psychological 1.2000
level into view, ahead of the post-referendum low at 1.1841. Bulls need to clear
the previously hard to overcome 1.2205/10 area to signal a short-term reversal.

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