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Free AccessRecovery Continues, 1% Volatility.......>
CABLE TECHS: Recovery Continues, 1% Volatility Band The Next Resistance
*RES 4: $1.3418 61.8% Fibo of $1.3659-$1.3027, 2% vol band
*RES 3: $1.3338/43 Oct 13 high, 50% Fibo of $1.3659-$1.3027
*RES 2: $1.3322 Nov 1 high
*RES 1: $1.3298 1% volatility band
*PRICE: $1.3251 @1635GMT
*SUP 1: $1.3210/20 Hourly support
*SUP 2: $1.3186 Intraday low
*SUP 3: $1.3170 Nov 17 low
*SUP 4: $1.3135 Hourly high Nov 13, Nov 16 low
*COMMENTARY* Held support from above $1.3062 last week. The subsequent recovery
has since moved through $1.3188 and then $1.3230 resistance and is now
challenging more important levels between $1.3267-$1.3298. Will now need back
above the latter to swing near term bias back to the topside. In the meantime,
immediate support comes from above $1.3220-$1.3110 and this currently protects
against any corrective action.
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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.