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Retreats from EMA *RES 4: 1.2516 High...>

CABLE TECHS
CABLE TECHS: Retreats from EMA
*RES 4: 1.2516 High May 4
*RES 3: 1.2467 High May 20 and key resistance
*RES 2: 1.2380 50-day EMA
*RES 1: 1.2363 High May 13
*PRICE: 1.2225 @ 16:28 BST May 27
*SUP 1: 1.2162 Low May 22
*SUP 2: 1.2076 Low May 18 and bear trigger
*SUP 3: 1.2030 50% retracement of the Mar 20 - Apr 14 rally
*SUP 4: 1.2000 Round number support
Cable's Tuesday gains were easily lost Wednesday as markets reversed course yet
again. This reignites the recent bearish focus, but the upside argument still
holds with markets above 1.22. Tuesday, the pair traded through resistance at
1.2282/96 marking the 20-day EMA and May 19 high. This signals scope for an
intraday climb towards the 50-day EMA at 1.2380. A break would open 1.2467.
Support lies at 1.2162, May 22 low.

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