###POV Focus Back On Key LT Support.....>

CABLE TECHS: ###POV Focus Back On Key LT Support Region

- A corrective move within a broader LT bear channel was confirmed as a bullish

trend outright with the weekly close above $1.3656 (monthly high Sept 2017) back

in Jan. MNI Technical Analysts recently identified the need for a weekly close

above $1.4349 (Jan 25 high) to confirm traction above the 200-WMA ($1.4229) and

shift initial focus to the weekly bull channel top ($1.4746) and overall LT

focus to the $1.5018 2016 high (June 24 2016).

- The failure to close above $1.4349 resulted in a bearish weekly close leaving

cable looking heavy and sees LT traders focused on a correction back to

$1.3656-1.3710 (Monthly Low Mar 1). The weekly bull channel base off 2016 lows

comes in around $1.3691 with LT traders needing a weekly close below $1.3656 to

confirm a break, initially targeting 55 ($1.3325) & 100 ($1.3102) WMAs. A close

below $1.2995 then shifts focus to $1.2587.

- LT traders now need a close above recent $1.4376 2018 & 22mth highs to

reconfirm dominance and target $1.4746-1.5018.

- Click for chart https://tinyurl.com/ybgdnhjx