Free Trial

Support Snaps *RES 4: 1.3212 High Jan...>

CABLE TECHS
CABLE TECHS: Support Snaps
*RES 4: 1.3212 High Jan 7
*RES 3: 1.3215 High Feb 3 and key S/T resistance
*RES 2: 1.3085 61.8% retracement of the Feb 3 - feb 10 decline
*RES 1: 1.3054/70 50-dma / High Feb 5 and 13
*PRICE: 1.2912 @ 05:15 GMT Feb 20
*SUP 1: 1.2924 Low Feb 19
*SUP 2: 1.2872 Low Feb 10 and key bear trigger
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
The 100-dma gave way Wednesday and a close below would be a bearish development.
This exposes 1.2872, the Feb 10 low. A move through this support opens 1.2824,
the Nov 22 low. For bulls to regain control, a break above last Thursday's high
of 1.3070 would be encouraging and would signal scope for an extension towards
1.3215, the Feb 3 high and a key near-term resistance.

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.