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Overbought Conditions See Key...........>
CABLE TECHS: Overbought Conditions See Key $1.3190-$1.3161 As Support
*RES 4: $1.3360 2017 bull channel top projection, 2% vol band
*RES 3: $1.3329 Intraday high
*RES 2: $1.3290 Intraday hourly recovery high
*RES 1: $1.3255/65 Hourly resistance
*PRICE: $1.3212 @1538GMT
*SUP 1: $1.3190/00 Hourly base Sep 12, hourly support
*SUP 2: $1.3161 Sep 12 low
*SUP 3: $1.3147 38.2% Fibo of $1.2852-$1.3329
*SUP 4: $1.3091 50% Fibo of $1.2852-$1.3329
*COMMENTARY* Rally through recent $1.3224 highs has now exceeded the year's
former $1.3269 high. A peak so far of $1.3329, as we make our way towards the
upper 2% volatility band and the 2017 bull channel projection top at $1.3360.
Some near term heavily overbought conditions are since being rectified and eyes
are now on $1.3200-$1.3190 support. Loss here would damage recent upside upside
momentum and heap pressure back on $1.3161. Resistance between $1.3255-$1.3290.
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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.