Free Trial

Fresh Downside Interest After Double....>

CABLE TECHS
CABLE TECHS: Fresh Downside Interest After Double Failure Below $1.3229
*RES 4: $1.3240/45 Congestion area Oct 16-17
*RES 3: $1.3228/29 Intraday, Oct 19 highs
*RES 2: $1.3204 Intraday hourly recovery high
*RES 1: $1.3165 Hourly resistance
*PRICE: $1.3125 @1545GMT
*SUP 1: $1.3113 Intraday low
*SUP 2: $1.3080/88 1% volatility band, Oct 20 low
*SUP 3: $1.3027/30 Oct 6 low, Jun 30 high
*SUP 4: $1.3001 1.618 swing of $1.3088-$1.3228
*COMMENTARY* Last Friday's dip to $1.3088 took us slightly below the 76.4% Fibo
retrace level at $1.3100 but was halted just above the lower 1% volatility band,
at $1.3080 by time today. These protect the downside from another tilt at the
$1.3030-$1.3027 area, which in turn protects the key $1.2983-$1.2979 region. In
the meantime, the failure to negotiate 1.3229 resistance has seen fresh selling
today, $1.3120 support giving way. Resistance $1.3165-$1.3204.

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.