The CABLE confirmed a strong closing last night suggesting further upside potential. This morning it returned however below the 200 hours line, now again resistance at 1,5591; the decline could however be just corrective especially while above 1,55 on an hourly closing.
The indicators of the daily chart are still well negative while those of the s/t ones are mixed supporting further consolidation. In the hourly chart we have however a negative reversal situation suggesting a s/t target at 1,5380 and a break below 1,55 will support such a drop.
Only a move above 1,5657 will postpone the decline favouring a higher retracement, move that we still want to sell.
We remain on the sideline.
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FUTURE TREND RESEARCH