Free Trial

Impulsive Decline Developing, 1.2958....>

CABLE TECHS
CABLE TECHS: Impulsive Decline Developing, 1.2958 Targeted
Yesterday's bearish breakout has developed an impulsive decline putting the
focus on the June 19 lows of 1.2958. Below here the lower boundary of the major
descending channel at 1.2915 is likely to be targeted. A sub-1.30 close on the
weekly charts today will add to the bearish picture. Bulls will need a move back
above the hourly high at 1.3064 by the end of the week to avoid a negative
weekly picture, and a break above 1.3174 to significantly improve the technical
outlook.

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.