Monday, September 26, 2016

Cable Rally is Imminent

The cable has been trading in a flat channel, trying to absorb the effect of the BREXIT referendum
Looks like price will embark on a new journey upside to complete what might look like the last leg of the correction.

The first indication of this expected bullish move is an impulse wave down. One would have expected a corrective move instead since sideway corrections are made of corrective structures.

With this impulse wave, the expected rally upside may end around 1.3230 before a new move downside.

A break above 1.2995 should encourage at least a sharp corrective move upside.

Targets could be set at 1.3120 and 1.3230.

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