Free Trial

Keeps pressing at resistance: *RES 4:...>

CABLE TECHS
CABLE TECHS: Keeps pressing at resistance:
*RES 4: 1.2533 100-dma
*RES 3: 1.2522 High Jul 24
*RES 2: 1.2427 38.2% retracement 1.3185 - 1.1959
*RES 1: 1.2385 High Sep 9
*PRICE: 1.2357 @ 16:06 GMT Sep 10
*SUP 1: 1.2210 Low Sep 5
*SUP 2: 1.2171 Former channel top, now support
*SUP 3: 1.2079 Low Sep 4
*SUP 4: 1.1959 Cycle low Sep 3
Having started the week well, the pair failed to print a new recovery high, but
markets look content to hold prices well toward the upper end of the recent
range. This maintains the bullish outlook and adds weight to the argument that
the current recovery is likely to hold. The focus is on the 1.2427 Fibonacci
retracement and the 100-dma above there, currently at 1.2533. Support lies at
the 1.2210-2171 zone, Sep 5 low and the former channel top.

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.