Elliott waves analysis – Sell the cable from 1.33042.


Sell the cable from 1.33042.

Wave Analysis:

On this chart, there’s a key resistance around 1.33042. We expect the price to rise towards this resistance so that we can pick a low risk sell opportunity towards 1.27700 or even lower. Should the price break above 1.33042, then we’ll wait for a retracement to the just broken line to pick a low risk buy opportunity with an ultimate target at 1.43140. If you’re not already in a buy position, you could place a pending sell limit order at 1.33042 with your stop loss slightly higher.

Trade Recommendations:

Sell the cable from 1.33042.

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