Cable faces strong support at 1.4600, good to buy at dips
Cable has once again recovered after making a low of 1.46359. Short term trend is still bullish as long as support 1.4600 holds.
Minor weakness can be seen only below 1.4600 and any indicative break below 1.4600 will drag the pair down till 1.4550/1.4480 level.
On the higher side minor resistance is around 1.4740 and any break above targets 1.4770/1.4780 (200 day MA).Cable should close above 200 day MA for further up move and any indicative break above will take the pair till 1.48500/1.4900 in short term.
It is good to buy at dips around 1.4665 with SL around 1.4600 for the TP of 1.4740/1.4780
Minor weakness can be seen only below 1.4600 and any indicative break below 1.4600 will drag the pair down till 1.4550/1.4480 level.
On the higher side minor resistance is around 1.4740 and any break above targets 1.4770/1.4780 (200 day MA).Cable should close above 200 day MA for further up move and any indicative break above will take the pair till 1.48500/1.4900 in short term.
It is good to buy at dips around 1.4665 with SL around 1.4600 for the TP of 1.4740/1.4780