Free Trial

Pulling Back After Faltering Ahead Of...>

CABLE TECHS
CABLE TECHS: Pulling Back After Faltering Ahead Of $1.4368 Fibo Level
*RES 4: $1.4287 Jan 26 high
*RES 3: $1.4208 Hourly recovery high Jan 26
*RES 2: $1.4159 Intraday high
*RES 1: $1.4100/10 Hourly resistance
*PRICE: $1.4043 @1715GMT
*SUP 1: $1.4024/28 Equality fall from $1.4287, Jan 23 high
*SUP 2: $1.4007/17 38.2%$1.3458-$1.4346,76.4% $1.3916-$1.4346
*SUP 3: $1.3957 1.618 swing of $1.4083-$1.4287
*SUP 4: $1.3902/16 50% of $1.3458-$1.4346, Jan 23 low
*COMMENTARY* As suggested last Thursday, the overstepping of the upper 2%
volatility band, at $1.4277 by time today, is never a long lasting scenario, so
always cautious when it happens. The subsequent fall from $1.4346-$1.4083 was
the first warning of some heavily overbought conditions. Today's further losses,
opening up deeper $1.4024-$1.3957 potential. Meanwhile, $1.4100-$1.4110 provides
initial resistance, ahead of the day's $1.4159 high.

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.