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Unloved under new PM: *RES 3: 1.2582....>

CABLE TECHS
CABLE TECHS: Unloved under new PM:
*RES 3: 1.2582 High Jul 15
*RES 2: 1.2550/58 Trendline drawn off the May 6 high / High Jul 18
*RES 1: 1.2482/93 Intraday high / 200-hma
*PRICE: 1.2444 @ 07:53 GMT July 24
*SUP 1: 1.2418 Low Jul 23
*SUP 2: 1.2382 Low Jul 17 / Multi-year low
*SUP 3: 1.2352/51 1.618% swing of 1.2440-1.2582 / April 2017 low
Cable maintains a bearish outlook. Attention remains on the multi-year low and
bear trigger at 1.2382. A break of this support would confirm a resumption of
the downtrend and extend the price sequence of lower lows and lower highs. This
would open 1.2352 ahead of 1.2300. Bulls need to recover 1.2558/61, before
challenging 1.2582, the high of Jul 15. A break above this zone is needed to
signal a reversal. This would also result in a trendline break drawn off the May
6 high.

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