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Cable triggers stops
By Gerry Davies || July 3, 2009 at 10:37 GMT
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Cable has triggered stops just below 1.6320, presently down at 1.6305. Technical supports as mentioned now at 1.6300 and 1.6280, more sell stops in 1.6275/80 area.
Best chance for cable here is that there are people who see cable stuck in a 1.62/1.66 range, and 1.6200/1.6300 as a good area to build long positions.
Just look at the daily for cable, head and shoulders may have formed…