$1.3218-$1.3226 Now The Resistance To...>

CABLE TECHS: $1.3218-$1.3226 Now The Resistance To Any Real Recovery

*RES 4: $1.3332 61.8% Fibo of $1.3473-$1.3102

*RES 3: $1.3299/07 Jun 15 high, Jun 13 low

*RES 2: $1.3245/55 Congestion Jun 15-18

*RES 1: $1.3218/26 Jun 20 high, Jun 18 low

*PRICE: $1.3203 @1108GMT

*SUP 1: $1.3130/40 Hourly support

*SUP 2: $1.3100/07 Swing $1.3145-$1.3218, 50% $1.1838-$1.4377

*SUP 3: $1.3084 6 week bear channel base projection

*SUP 4: $1.3038 1.618 swing of $1.3204-$1.3473

*COMMENTARY* The 76.4% Fibo retrace level at $1.3152 has given way now, allowing

the possibility of a $1.3107-$1.3100 fall next. Still looks like we are close to

the base of a 5th wave in the fall from the month's $1.3473 high. That said, a

loss of the slightly lower $1.3084 level would have us back toward $1.3038 and

the Oct 6 low at $1.3027. Resistance from $1.3195 has been exceeded but back

above $1.3218-$1.3226 would be required to unleash some real upside potential.