Cable Bearish Cycle Underway

Cable barreled through the 2.0010/2.0027 resistance to trade above 2.0150 yesterday afternoon before rolling over at 2.0172. Still, there is no overlap with waves 1 and 4 so the rally from 1.9879 can be counted as a 4th wave. A drop below 1.9879 would complete 5 waves down from 2.0366 and give scope to a corrective rally.