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We are around 2% higher from yesterday’s low just above $1.40. While the usual caveats about the referendum apply, it may be that cable has recovered and is now poised to move back towards the 50-day simple moving average (SMA) at $1.4433. Beyond this the next target is $1.47 and then highs from May.
The $1.40 mark remains the line in the sand on the downside, and a break below here still targets the February low at $1.3840.