Daily – Cable hit monthly target MMI/MS2 on 21.06.17, making a lowerlow. Cable than reversed making H/H and L/L, Entering the month at MM3/MR1 level making another H/H.Cable than reversed over the next 3 weeks ,but making no L/L or L/H. even ranging at times. The last 3 days has seen a breakout to MMI/MS2 target. I expect bears are taking profit ,and price will reverse back to MPP. other option is for more bears to sell and and a double bottom to form before a reversal to MPP.Stochastic is not considered due to it not being a ranging market, though not either a nice trending market. Price action shows bearish -8/5. Market direction is fairly neutral with 21 above 55 ,showing a possible bull market possibly forming . 200 MA above price action. H4 – Confirms bearish breakout, price now coming back to test resistance – 21ma before going down for a double bottom , before reversing back to MPP




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