Bulls Must Hold Bounce *RES 3: 1.2415...>

CABLE TECHS: Bulls Must Hold Bounce

*RES 3: 1.2415 100-day MA

*RES 2: 1.2412/13 100-dma/High Oct 3

*RES 1: 1.2397 High Oct 10

*PRICE: 1.2370 @ 16:10 GMT Oct 10

*SUP 1: 1.2195 Low Oct 8

*SUP 2: 1.2167 1.0% 10-dma envelope

*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise

Another session either side of the 50-dma with a late-in-the-day rally prompting

a test on the 100-dma. A close above here would solidify the outlook, but the

market clearly remains wary of headline-induced volatility. The focus for bears

remains on the potential for lower levels following Tuesday's sell-off. The

1.2197 Fibonacci retracement is under pressure. A clear break of the retracement

an an extension lower would open the 10-dma envelope support at 1.2167 and the

low 1.2100's.