Currently Cable is @ 1.6085 and bouncing on the S4. This appears to have corrected (although not very deep) the last up move. We could also be at the very start of a descending wedge which IF built foretells of further correction and NOT a bounce. We are now looking initially for the bounce to go to 1.6125 S4 @ wedge top line. We are bullish above 1.6125 to the R5 @ 1.6199. Lower targets are the support @ 1.6014 area.
