Cable: Is this the level to go long by Reece Marini



Cable has attracted solid buying on the AB=CD (Light blue) and 1:1 (White) that coincided with an important 50 fib at 1.51500 during yesterdays NY session. As long as the market continues to attract solid buying above this level I would expect the 1.52700 high to come under attack in the sessions ahead, however if the bulls fail to hold the market above the 1.51500 level the downside pressure is likely to resume.

* A 1:1 refers to a current correction being equal in length to a prior correction

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