$1.3288-1.3289 Now Provides Initial.....>

CABLE TECHS: $1.3288-1.3289 Now Provides Initial Resistance To Any Bounce 

*RES 4: $1.3452/56 Sep 20 low, Sep 28 high

*RES 3: $1.3380/90 Hourly congestion Sep 27, 29 & Oct 2

*RES 2: $1.3343/50 Sep 28, Sep 29 lows, now resistance

*RES 1: $1.3288/89 Hourly resistance

*PRICE: $1.3251 @1545GMT

*SUP 1: $1.3216/22 50% Fibo $1.2774-$1.3659, intraday low

*SUP 2: $1.3194 Hourly support

*SUP 3: $1.3153 2% volatility band, Sep 14 low

*SUP 4: $1.3112 61.8% Fibo of $1.2774-$1.3659

*COMMENTARY*  The further loss of the 38.2% Fibo retrace level at $1.3321 on

Monday has seen fresh downside pressure break below $1.3272-$1.3269 support. A

low of $1.3222 so far as we head towards the 50% Fibo retrace level at $1.3216.

This the protection against a deeper $1.3194-$1.3153 fall, as we give back some

of the gains from the Aug 24 base at $1.2774. Resistance from $1.3288-$1.32895

provides the first barrier, then $1.3343-$1.3350, to any recovery hopes.