Free Trial

Resistance From $1.4097 Continues To....>

CABLE TECHS
CABLE TECHS: Resistance From $1.4097 Continues To Rebuff Rallies
*RES 4: $1.4201 Mar 28 high
*RES 3: $1.4174 Hourly high Mar 27
*RES 2: $1.4134 Initial low Mar 28, now resistance
*RES 1: $1.4097 Mar 29, intraday highs
*PRICE: $1.4044 @0830GMT
*SUP 1: $1.4011/15 Mar 30 low, Apr 4 low
*SUP 2: $1.3979/83 50% Fibo of $1.3712-$1.4245, Mar 20 low
*SUP 3: $1.3954/58 1% vol band, 1.618 swing $1.4011-$1.4097
*SUP 4: $1.3930 Mar 6 high, now support
*COMMENTARY* Has faltered again today at the $1.4097 resistance level and while
this continues, the risk will once again turn to the downside. Initial support
from $1.4030 now, before again entering into the $1.4011-$1.3979 area. Any lower
and support from $1.3958-$1.3954, keeps pressure off $1.3930-$1.3916. Above
$1.4097 and scope to increase gains toward $1.4134-$1.4174 but $1.4201 remains
the tougher ask higher.

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.