Free Trial

Recovery Attempts Break Above...........>

CABLE TECHS
CABLE TECHS: Recovery Attempts Break Above $1.3252-$1.3259 Resistance
*RES 4: $1.3330 1% volatility band
*RES 3: $1.3315 Jun 22 high
*RES 2: $1.3288 1.618 swing of $1.3214-$1.3095
*RES 1: $1.3259/68 Equality rise target, intraday high
*PRICE: $1.3247 @1052GMT
*SUP 1: $1.3190/00 Hourly support
*SUP 2: $1.3171 Jul 4 low
*SUP 3: $1.3135/55 Congestion area Jul 2-Jul 3
*SUP 4: $1.3095 Jul 2 low
*COMMENTARY* Monday's hold of $1.3095 support kept momentum with the topside.
The subsequent move above $1.3185 has allowed the chance to extend gains through
$1.3252-$1.3259 resistance. The latter is the equality rise target from $1.3095
to the prior $1.3050-$1.3214 move. Support comes from $1.3200-$1.3190 and then
yesterday's $1.3177 low. Would anticipate the latter to hold, if gains are to
continue. Sustained move above $1.3259 and $1.3288-$1.3315 next.

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.