Here’s a short update on the cable. I’ve modified my counts a little after looking at the 1hr. It looks like a expanded flat has just completed, and it is completing its wave v of 3. If that’s true. it will still have a wave 4 correction, before a final wave 5.
This means we can expect still some more range bound price movements to occur before we get a more decisive direction. I would think that range-bound strategies would work well in the near term.
Price Range to watch is still around 1.6500-1.6530. Look for price weakness, and breaking of previous lows.
