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Bears Given Greenlight *RES 4: 1.3212...>

CABLE TECHS
CABLE TECHS: Bears Given Greenlight
*RES 4: 1.3212 High Jan 7
*RES 3: 1.3215 High Feb 3 and key S/T resistance
*RES 2: 1.3085 61.8% retracement of the Feb 3 - feb 10 decline
*RES 1: 1.3054/70 50-dma / High Feb 5 and 13
*PRICE: 1.2877 @ 17:00 GMT Feb 20
*SUP 1: 1.2849 Low Feb 20
*SUP 2: 1.2832 1.0% 10-dma envelope
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
After the 100-dma gave way Wednesday, bears were given the greenlight to run
prices to the lowest levels since November. This is a major bearish development.
This exposes 1.2824, the late Nov low. A move through here would open 1.2769,
the Nov 8 low. For bulls to regain control, a break above last Thursday's high
of 1.3070 would be encouraging and would signal scope for an extension towards
1.3215, the Feb 3 high and a key near-term resistance.

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