Great looking short-term chart in cable…very tempting to be a buyer on dips.
But knowing cable, it is likely to keep right on dipping.
Prices reached 1.6170 earlier after stops above 1.6165 were triggered this morning and still has a hurdle at 1.6185 to overcome.
I’m normally a believer in techs first, fundamentals second…but buying strength in cable rarely pays dividends…
To me, it kinda has that Aussie above 1.0150 feel about it…Once the momentum stalls, bulls get queasy and run for the exits…