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(U2) Recovers Off Lows, Remains Neutral


Pierces Key Support


Corrective Cycle Extends

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CABLE TECHS: Bears Need Close Below $1.3538
*RES 4: $1.4349 Low June 20 2016 now resistance 
*RES 3: $1.4010 Low June 16 2016 now resistance 
*RES 2: $1.3828 Low Feb 29 2016 now resistance 
*RES 1: $1.3656 2017 High Sept 20
*PRICE: $1.3512 @ 0530GMT
*SUP 1: $1.3567 Hourly resistance Jan 2 now support 
*SUP 2: $1.3538 Hourly support Jan 2 
*SUP 3: $1.3473 Hourly breakout level Dec 29 
*SUP 4: $1.3429 High Dec 27 now support
*COMMENTARY: Immediate bullish focus remains on 2017 highs with a close above to
shift focus to layers of resistance $1.3828-1.4349. The Bollinger top ($1.3568)
is the key concern for bulls with potential to limit follow through. Layers of
support are following the pair higher and adding to bullish confidence. Bears
now look for a close below $1.3538 to ease bullish pressure.

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