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CABLE TECHS: $1.3298-$1.3285 The Near Term Protection To Downside
*RES 4: $1.3460/70 Pivotal highs/lows early December
*RES 3: $1.3432 Dec 11 high
*RES 2: $1.3405/08 Hourly congestion Dec 8-Dec 11
*RES 1: $1.3381 Dec 12 high, broken 4 week support line
*PRICE: $1.3348 @1009GMT
*SUP 1: $1.3285/98 1% vol band, 76.4% of $1.3221-$1.3549
*SUP 2: $1.3221/27 Nov 28 low, 61.8% of $1.3027-$1.3550
*SUP 3: $1.3196 1.618 swing of $1.3320-$1.3521
*SUP 4: $1.3150 76.4% Fibo of $1.3027-$1.3550, 2% vol band
*COMMENTARY* The 4 week rising support line gave way on Monday, once again
putting the congested $1.3320-$1.3285 area back in the shop window. Only clearly
below the latter will open up the potential for a deeper $1.3221-$1.3196 fall,
as the disappointment from last week's $1.3550 cap grows. Resistance in the
meantime, comes from Tuesday's $1.3381 high and then the $1.3405-$1.3408 region.
Back above here needed to reignite upside interest.