1.2880 Providing Short-Term.............>

CABLE TECHS: 1.2880 Providing Short-Term Resistance

Recovery efforts have been shallow and lacking impulse so far, capped around the

1.2880 level, suggesting that the bearish trend remains intact. Thursday's low

of 1.2724 remains the focus as does up trendline support from the Aug lows at

1.2704. To reignite upside momentum, bulls need to break above the 50%

retracement of 1.2696-1.3258/the 100-dma at 1.2977/13, opening the Nov 7 high at

1.3175, ahead of down trendline resistance off the June high at 1.3198. On the

downside, bears look to break below the Nov 15 low to open the Oct 30 low at

1.2696 & ytd low at 1.2662.