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Apr 01

TECHNICAL ANALYSIS BY NSFX 01.04.2013

By:admin

High:  Low: 

Cable is still showing bullish interest, but bids are fading. Currently, the pair is balancing on the 1.52-figure, but the current wedge signifies that something has to give (and weekly, we see strong resistance at the 1.5275-level - 50% Fibo in 2009 low-high wave). A break of the bear trend, would give scope for a test of the 50-day SMA just above the 1.53-figure, whereas a break of trend support would open up for a level back below 1.51.

R3
R2
R1
S1
S2
S3