Tuesday’s indecisive price action was followed by a return of investor buying. Despite marginally lower levels, sentiment turned sharply for CABLE and the most positive performance for almost 3 months resulted.
This move took prices back to the lower band of the declining Keltner channel and while we would normally look for a close inside that band to confirm a positive stance, yesterday's gains completed a Bullish Morning Star pattern on daily candle charts and with this in the background there is potential for gains to build to 1.6231 and 1.6257.