Free Trial

Profit-taking Above 1.3250 After a......>

CABLE TECHS
CABLE TECHS: Profit-taking Above 1.3250
After a strong start to the Friday session having closed back above 1.32
Thursday, the rally faltered on a break below minor technical support at $1.3230
to extend a corrective pullback away from earlier highs of $1.3258. Upside
momentum never really recovered, prompting bears to shift their downside targets
to 1.3137 before 1.3028. Bulls now target the Sep 20 high at 1.3298. A break
above here would confirm a large inverse head-and-shoulders pattern.

To read the full story

Close

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.