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Free AccessTrapped Between 1.3013 and 1.2769.......>
CABLE TECHS: Trapped Between 1.3013 and 1.2769
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High May 10
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 High Nov 18
*PRICE: 1.2881 @ 16:41 GMT Nov 25
*SUP 1: 1.2824 Low Nov 22
*SUP 2: 1.2769 Low Nov 8 and bear trigger
*SUP 3: 1.2704 200-day MA
*SUP 4: 1.2658 Low Oct 16
After failing last week to tackle key resistance at 1.3013, the Oct 21 high, the
recent focus remains on the bullish implications of last Monday's breach of
resistance at 1.2921, a trendline drawn off the Oct 21 high. Price action since
the break though has not been encouraging for bulls and Friday's sell-off has
exposed key support at 1.2769, Nov 8 low. However, for a clearer directional
signal, we need to see a break of either 1.3013 or 1.2769.
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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.