Last week's weak rally in CABLE was capped, as expected, by the 13 day moving average. The subsequent renewal of selling pressure yielded powerful losses of more than 1 big figure. This keeps prices hugging the base of negatively trending daily & weekly Keltner channels with 76% of this year’s rise now corrected.
Intraday signals for sentiment are oversold but currently rallies are expected to attract fresh sellers with potential through 1.6440 to 1.6410 or even 1.6382 in the coming days.
