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Uptrend Intact Above 1.31 After.........>

CABLE TECHS
CABLE TECHS: Uptrend Intact Above 1.31
After briefly topping 1.32 on higher CPI, Brexit headlines saw cable drop back
below 1.31, where it found a bid, keeping the uptrend alive. Bulls initially
need to clear the 100-dma at 1.3160 and hold above 1.3200 to cement the
longer-term outlook. A break of the July 9 high suggests a medium-term bottom is
in place, targeting a move toward the 200-dma at 1.3520. Bears need to see a
close below 1.30 and the 50-dma at 1.2984 to re-establish the broader bearish
trend.

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