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CABLE TECHS: Set To Resume Downtrend?
The corrective rebound failed to overcome the initial resistance at 1.2976,
keeping the bearish trend intact. Focus returns to Monday's 1.2920 low, with a
break below here extending the major downtrend towards the lower end of the
major descending channel where trendline support now intervenes at 1.2846. A
break above 1.2976 is needed to provide the first sign of stability, but 1.3064
would have to be overcome to generate a bullish reversal.