Free Trial

Pullback Currently Holding Above........>

CABLE TECHS
CABLE TECHS: Pullback Currently Holding Above $1.3015-$1.3008 Support
*RES 4: $1.3165 Aug 4 high
*RES 3: $1.3135/40 Congestion area Aug 3-4
*RES 2: $1.3112 Aug 3 low, now resistance
*RES 1: $1.3085/95 Hourly resistance
*PRICE: $1.3050 @0851GMT
*SUP 1: $1.3008/15 Equality fall, 76.4% of $1.2933-$1.3269
*SUP 2: $1.2990 1% volatility band
*SUP 3: $1.2929/33 50% of $1.2589-$1.3269, Jul 20 low
*SUP 4: $1.2920 76.4% Fibo of $1.2812-$1.3269
*COMMENTARY* A high last Thursday of $1.3269, just above the top of the
anticipated $1.3245-$1.3253 resistance zone. The subsequent fall has gained
speed, leaving support from $1.3097-$1.3050 in its wake. As a result this has
broken the 7 week rising support line and now leaves $1.3015-$1.3008 as next
target area. This a combination of a 76.4% Fibo retrace and the equality fall
from $1.3165 to previous $1.3269-$1.3112 drop. Resistance from $1.3085-$1.3112.

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.