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Week Comm 13th Dec.

Phil Newton's picture
the psychologival 1.90 has held for now, with Cable managing to haul itself up above the important half prime 9050 support camp. As mentioned earlier this week, this half prime represents uptick momentum on this leg North - and although the noticeable depreciation in liquidity is beginning to show itself, the Cable Bulls still need to maintain strength here to give credence to recent dip buying. there aren't too many strong shoulders to prop this thing at these heights, and volumes will definitely dry up next week.....which equates to an "anything goes" scenario on most of these instruments! the obvious levels are visible below Friday's close, however, the dip buying of recent weeks will need to be carefully adjudged before commiting $$'s on weak rebounds....a case of 'watching your backs' as the intraday volatility pings around into year-end closure.