Cable update – Sellers can come-in abv 1.4510

Cable’s daily closing abv 1.4436 indicate bulls remain in control and a dip below 1.4336 followed by a sharp recovery abv 1.4473 has left the doors open for a rise to 1.45+ levels

However, bulls should watch out for prospects of bearish price-RSI divergence, especially since area around 1.4513-1.4533 could offer strong resistance.

A drop to 1.4460 cannot be ruled out before another attempt at 1.45+ levels is made.

Overall, short-term view stays bullish unless spot closes below 1.4536 (indicating caution for bulls, but still won’t be sign of bearish move)


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