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Breakout Lacks Follow Through Despite...>

CABLE TECHS
CABLE TECHS: Breakout Lacks Follow Through
Despite closing above Friday's high and the 21-dma, momentum faltered slightly
on Tuesday at around last week's highs of 1.2936, which is now pencilled in as a
near-term top. A break above here would expose 1.2958 (the July low) ahead of
the 50-dma at 1.3050. Bulls will watch a close above here to suggest a solid
base is forming. Failure to hold 1.2800 would see downside momentum build with
bears targeting the 1.2750 level and Aug 15 low at 1.2662.

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