Back in familair territory again huh? I've snagged the chart from Wednesday morning & sat it alongside today's offering to highlight the consistancy of these ebb & flow price journey's.
It's no surprise they stutter & splutter when they re-visit previous zones of minor & major fulcrum activity. These occurances allow us the luxury of gathering the relevant information (fundamental as well as technical) in order to better plan out next move.
Be that based upon our favorite technical set-up or maybe a change in sentiment etc.
Some of you will no doubt have spied the technical pattern visible on the 60min & smaller timeframe?
Head & Shoulder patterns are deemed a bearish warning sign. Certainly the inability to hold & build upon the near-term s&r level of 2.0100 renders Cable suspect to follow thru sales.
I guess all this type of ongoing analysis can assist someway in prepping your favorite set-up's & strategy plays.
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