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CABLE TECHS: Bearish Channel Intact
Failure to sustain gains above the initial resistance at the 1.3133 level is
keeping the focus on the downside and the choppy bearish trend in place. The
Friday low of 1.3082 is the next line of defense for the bears before the July
low of 1.2957 comes into play. Bulls need a sustained break above Friday's high
of 1.3133 and the July 26 high of 1.3215 to gain some breathing room and mount a
challenge at bear channel resistance.