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Free AccessKey trigger for bulls at 1.2784: *RES...>
CABLE TECHS: Key trigger for bulls at 1.2784:
*RES 4: 1.2926 61.8% retracement of the May 6-Jun 18 decline
*RES 3: 1.2866 Low Apr 25
*RES 2: 1.2809/13 50-DMA and High May 21
*RES 1: 1.2784 High Jun 25 and key short-term bull trigger
*PRICE: 1.2673 @ 05:25 GMT June 25
*SUP 1: 1.2672 Low Jun 25
*SUP 2: 1.2633 Low Jun 20
*SUP 3: 1.2601 Former trendline resistance, now support
*SUP 4: 1.2543 Low Jun 19
Cable failed to extend its run of five consecutive sessions of gains Tuesday.
This has highlighted the importance of yesterday's 1.2784 high where a break is
now required to confirm a resumption of the recent rally. Technical conditions
remain bullish following last week's trendline break with momentum studies also
trending higher. A move above 1.2784 would open 1.2866 and 1.2923. Initial
support intersects at 1.2601, the former trendline resistance.
To read the full story
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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.