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Heading South


Trades Through Key Short-term Resistance


Compelling Case for 50Bp Hikes


BLOCK, 5Y Sale

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CABLE TECHS: Setback Holds Above Initial $1.4224-$1.4221 Support
*RES 4: $1.4417 1.618 swing of $1.4245-$1.3966
*RES 3: $1.4368 61.8% Fibo of $1.5932-$1.1838
*RES 2: $1.4338/46 Swing $1.4297-$1.4231, Jan 25 high
*RES 1: $1.4285/97 Hourly resistance, Apr 13 high
*PRICE: $1.4266 @0808GMT
*SUP 1: $1.4221/24 Apr 13 low, Apr 11 high
*SUP 2: $1.4180 Hourly congestion Apr 10-12
*SUP 3: $1.4145 Apr 12 low
*SUP 4: $1.4097 Apr 5 high, now support
*COMMENTARY* Following last Thursday's hold of key $1.4145 support, we have seen
the early Feb highs and upper 1% volatility band at $1.4279, slightly exceeded.
If this can be sustained, then the next band of resistance comes from between
$1.4338 and the year's previous $1.4346 high. Higher and $1.4368 next, ahead of
the swing target at $1.4417. In the interim, a low of $1.4231 so far, with the
lower $1.4224-$1.4221 area currently of more consequence below. 

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