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Free AccessRally Tests Upper 1% Volatility Band....>
CABLE TECHS: Rally Tests Upper 1% Volatility Band
*RES 4: $1.3570 May 17 high
*RES 3: $1.3520 76.4% Fibo of $1.3618-$1.3204
*RES 2: $1.3481/87 23.6% Fibo of $1.4377-$1.3204, May 4 low
*RES 1: $1.3474 1% volatility band
*PRICE: $1.3456 @0830GMT
*SUP 1: $1.3415/25 Hourly support
*SUP 2: $1.3397/99 Jun 4 high, Jun 6 low
*SUP 3: $1.3362 Jun 1 high, now support
*SUP 4: $1.3333 Initial rally high Jun 5, now support
*COMMENTARY* Rally has moved through $1.3440-$1.3465 resistance today, coming to
rest at the upper 1% volatility band and just below the next levels of note
between $1.3481-$1.3487. Some near term overbought conditions are in need of
some correction, so look for support initially from above $1.3425-$1.3415. Only
back below $1.3397 will concern at present. Maintained break above $1.3487 will
test the resolve of the 76.4% Fibo retrace level at $1.3520 next.
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Why MNI
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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.