Thursday, October 20, 2011

Cable

Cable is now at the 38% Fibonacci level taken from 18th of August highs and 5th October lows and the 50 day moving average.There is a trend line from the 19th July candle stick that is clearly a barrier at the 38% fib level. A break above the fib line might signal further strength to 5900 then the big psychological level of 6000.Will see how it pans out come tomorrow.

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