Cable Long
Currently @ Resistance on the Hourly with a nice push off a re-test of the long term weekly wedge formation
Levels to watch: 1.2260 marks hourly 7th May Swing Low
Just above @ 1.2289 marks the underside of current structure with 21st April Daily Close. Bulls need to take out this zone for further upside.
1.21740 bullish invalidation
Looking for long continuation into 1.2350-1.2413 region backed by the 50-618 Retracement of the Daily Double Top.
The Blue Slope below is the top of the Weekly Long Term Wedge Re-test, see previous HTF Analysis.
Levels to watch: 1.2260 marks hourly 7th May Swing Low
Just above @ 1.2289 marks the underside of current structure with 21st April Daily Close. Bulls need to take out this zone for further upside.
1.21740 bullish invalidation
Looking for long continuation into 1.2350-1.2413 region backed by the 50-618 Retracement of the Daily Double Top.
The Blue Slope below is the top of the Weekly Long Term Wedge Re-test, see previous HTF Analysis.
Penafian
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