Free Trial

Head And Shoulder Neckline Gives Way....>

CABLE TECHS
CABLE TECHS: Head And Shoulder Neckline Gives Way
Yesterday's break below Tuesday's low has triggered a short term head and
shoulders neckline break which puts the focus on the Jan 15 low at 1.2670. The
Jan 3 low at 1.2441 comes in below here which coincides with the measured moved
from the H&S. Bulls need a close above the 100-dma & Feb 7 high at 1.2878/96 to
bring the 200-dma at 1.3006 into view. Topside focus remains on a break of
1.3160 which would trigger a bullish pennant formation.

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.