Free Trial

Topside Follow Through Remains Absent...>

CABLE TECHS
CABLE TECHS: Topside Follow Through Remains Absent
*RES 4: $1.4150 Low Feb 1 now resistance 
*RES 3: $1.4086 Hourly support Feb 15 now resistance 
*RES 2: $1.4069 High Feb 26 
*RES 1: $1.3974 Hourly resistance Feb 27
*PRICE: $1.3959 @ 0530GMT
*SUP 1: $1.3903 Hourly support Feb 22 
*SUP 2: $1.3858 Low Feb 22 
*SUP 3: $1.3794 Low Feb 12 
*SUP 4: $1.3770 55-DMA
*COMMENTARY: Bears take comfort in the lack of follow through on the pop above
the 21-DMA ($1.3993) with the pair looking a little heavy as a result. In saying
that, bears continue to look for a close below $1.3858 to reconfirm initial
focus on $1.3720-70 where the 55-DMA is located. Layers of resistance have
accumulated and add to bearish confidence. Bulls continue to look for a close
above $1.4150 to shift focus back to $1.4286-1.4349.

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.