The CABLE confirmed a weak closing on Friday while remaining interior the inside day with 1,5795 – 1,5515 still the levels to follow in the coming hours. Only a possible closing above 1,5795 will extend the move up toward the 1,59 area if not even 1,61 where we find the 200 days line!!
The indicators of the daily chart are however still below the line as well as those of the s/t ones supporting further weakness. The indicators of the s/t charts are also below the line at the moment. They are showing potential positive reversals: however we remember that they missed to form divergences on the way up. The decline confirmed a test of the 200 hours line at 1,5578 that limited the move down; while above this line we expect a resumption of the move up suggesting a possible target at 1,5910!!
We would like to buy the CABLE but prefer waiting for further confirmations.
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FUTURE TREND RESEARCH