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Collins: Cable to extend with fresh buying

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Alan Collins expects last week’s gains in cable to extend. He says last week's demand posted a third up week from the last four but the important factor was that Friday’s strong demand of more than a big figure ended a gradual sequence of lower daily highs. 

"The bounce took prices above the 13 and 100 day moving averages" adds Alan "This week began with gains but, crucially the rejection of those highs, deepening yesterday, found fresh buyers at Friday’s Marabuzo line and the 13 day average."

Targets: 1.5446, 1.5475 or even 1.5509. 

Setbacks should be limited by 1.5392 

Stop: 1.5359