MNI: CABLE:###POV: UP UP & AWAY?: A Technical........>

MNI: CABLE:###POV: UP UP & AWAY?: A Technical Perspective

Cable closed above both the weekly and monthly long term trend lines last week.

This is the falling resistance line drawn off the Jul 2014 high at $1.7192 and

the June 2016 high at $1.5020. Will need to see continued confirmation of these

breaks, which starting on a weekly basis means a close above $1.3425 tomorrow

and on a monthly basis above $1.3380 at the end of the year. Without these and

the fact that a move back above the $1.3510-$1.3565 area has not been

satisfactorily sustained yet, raises some near term concerns. These are the

potential drawbacks to a further $1.3804-$1.3883 rise, where next questions are

asked.