Indicators are bearish and a break and failure under the 50 and 68 emas adds support to the move lower to the next level of support at 1.5734 which has been a pivotal area and also the 61.8 fib of the 1.5644 - 1.58795 BC leg then target area..
Wednesday, 22 February 2012
Cable
4 Hourly Cable is currently tracing out the CD leg of an AB = CD pattern ( AB - 1.5928 to 1.5644 ) from the C point at 1.59795 with the AB = CD target at 1.55965 with Fib confluence at 1.5580 - being both the 127.2 fib extension after a 78.6 retrace of the AB leg to point C and also the 50 fib of the XA leg ( 1.5233 - 1.5928 ).
Indicators are bearish and a break and failure under the 50 and 68 emas adds support to the move lower to the next level of support at 1.5734 which has been a pivotal area and also the 61.8 fib of the 1.5644 - 1.58795 BC leg then target area..
Indicators are bearish and a break and failure under the 50 and 68 emas adds support to the move lower to the next level of support at 1.5734 which has been a pivotal area and also the 61.8 fib of the 1.5644 - 1.58795 BC leg then target area..
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