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CABLE: Path of least resistance remains down:
*RES 4: 1.2813 High May 21
*RES 3: 1.2763 High Jun 7 and key resistance
*RES 2: 1.2687 Trendline resistance drawn off the May 6 high
*RES 1: 1.2606 High Jun 17
*PRICE: 1.2558 @ 04:38 GMT June 18
*SUP 1: 1.2500 Round number support
*SUP 2: 1.2476 Low Dec 12, 2018
*SUP 3: 1.2407 Low Jan 3 and major support
*SUP 4: 1.2400 Round number support
Despite modest recovery off Tuesday's low in Cable, this does materially change
the firm downward trend and the recent break to fresh lows continues to weigh.
Bearish conditions remain and the focus is on potential for a move toward 1.2500
with the Jan 3 low of 1.2407 moving into view. Potential bullish divergence
between price and momentum on the daily frequency is developing, however this
does not represent a significant threat to bears at this stage.