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New PM, new lows?: *RES 4: 1.2630.......>

CABLE TECHS: New PM, new lows?:
*RES 4: 1.2630 61.8% retracement of the decline between Jun 25-Jul 17
*RES 3: 1.2582 High Jul 15
*RES 2: 1.2550/58 Trendline drawn off the May 6 high / High Jul 18
*RES 1: 1.2482/93 Intraday high / 200-hma
*PRICE: 1.2434 @ 04:34 GMT July 24
*SUP 1: 1.2418 Low Jul 23
*SUP 2: 1.2382 Low Jul 17 / Multi-year low
*SUP 3: 1.2352/51 1.618% swing of 1.2440-1.2582 / April 2017 low
*SUP 4: 1.2300 Round number support
Cable maintains a bearish outlook. Attention on the multi-year low and bear
trigger at 1.2382. A break would confirm a resumption of the downtrend and
extend the price sequence of lower lows and lower highs. This would open 1.2352
ahead of 1.2300. Bulls need to recover 1.2558/61, before challenging 1.2582, the
high of Jul 15. A break above this zone is needed to signal a reversal. This
would also result in a trendline break drawn off the May 6 high.

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