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Cable poised to attack resistance
29-08-2014 09:40
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Technical analysts at Digital Look are pointing out that the recent bounce in cable has been "rather weak", adding that it began from the base of the short-term descending channel.
"The short-term trend continues to be bearish, but that doesn't mean that cable might try to attack the channel's upper trendline at 1.6640," they said.
In any case, they remain adamant that the pair has no important levels of technical support until the 1.6250-1.6260 area is reached.
JR
"The short-term trend continues to be bearish, but that doesn't mean that cable might try to attack the channel's upper trendline at 1.6640," they said.
In any case, they remain adamant that the pair has no important levels of technical support until the 1.6250-1.6260 area is reached.
JR
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