It looked like Cable finally abandoned the ascending channel as it closed below the lower boundary line last Thursday but after lots and lots of efforts, it finally managed to close back above (you can see the continuous touches in the chart below).

So for now, it can be assumed that the up move is still in force. Keeping that in mind the next target for the cable comes at around 1.3220 area, a minor resistance, and then the major hurdle comes at around 1.3300. And if that breaks then we can target 1.3660 provided we pass through the multiple year down trendline resistance (shown in green).

So for Cable, I will be looking for buying opportunities.(At least for now)






Kid, you’ll move mountains.
- Dr. Seuss
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