A double bottom formed around 147 which indicated an end to the interim retracement off the 162.50 high. The neckline of this formation is at 152.35, and this has confirmed itself by proving to be strong support. We are currently in an advancing wedge with parameters at 155 and 159 approximately. I would favour playing this range with an eventual bullish break-out the likely option. Not good for my short cable strategy!
