Free Trial

Recoveries Remain Shallow Cable.........>

CABLE TECHS
CABLE TECHS: Recoveries Remain Shallow
Cable remains locked in a downtrend with yesterday's rally losing steam just
above 1.2850 to see the pair close back below 1,28. Bears focus returns to
Friday's low at 1.2777, below here opens the 2018 low at 1.2662, ahead of the
measured move target from the double top formation down at 1.2500. Bulls
initially need to recover the upper bound of the downtrend channel at 1.2944 to
shift the outlook neutral, before challenging up trendline resistance & 100-dma
at 1.3055/60.

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.