(1,5177) The CABLE confirmed last night a positive closing but well off the high of the session. Still only a move above 1,5220 confirmed by an hourly closing will postpone further weakness supporting a higher retracement. A move above 1,5220 will confirm also a double bottom with a 140 pips upside potential!! The monthly closing was instead very weak, well below the low of the previous months suggesting further downside pressure. The indicators of the daily chart are still well negative and oversold and also those of the monthly one turned below the line supporting further weakness. The indicators of the s/t charts are mixed suggesting further consolidation. We are still short with the stop at 1,5225; if done we sell at higher levels!!
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