The CABLE failed to confirm a break below the key level at 1,5877 recovering and forming a small positive day reversal. Only a daily closing above 1,5990 will however confirm a s/t bottom supporting a little higher levels!!
The indicators of the daily chart are still in positive territory while those of the s/t ones are mixed suggesting further consolidation. An hourly closing above 1,5990 will favour an extension of the correction toward the 200 hours line with even a possible 1,60 overshooting. The move up is however corrective and therefore a selling opportunity!!
We remain on the sideline waiting for higher levels to sell.
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FUTURE TREND RESEARCH