Despite the most negative performance for 9 days, the consolidation in CABLE near the top of the Keltner channel and 4 ½ year highs, continued. The market sold at lower levels but the lows of the day were not maintained and the key 13 day moving average untested.
This profit taking, and correction to overbought extremes, may have further to run but underlying signals for sentiment are still positive. A move through 1.7157 would confirm and accelerate demand with potential above 1.7181 towards 1.7220.