Bulls Need Close Above $1.3388 Today....>

CABLE TECHS: Bulls Need Close Above $1.3388 Today

*RES 4: $1.3549 High Nov 30 

*RES 3: $1.3519 High Dec 8 

*RES 2: $1.3462 High Dec 14 

*RES 1: $1.3388 Low Dec 14 now resistance

*PRICE: $1.3333 @ 0530GMT

*SUP 1: $1.3300 Low Dec 15 

*SUP 2: $1.3253 55-DMA 

*SUP 3: $1.3198 100-DMA, Daily bull channel base 

*SUP 4: $1.3128 Low Nov 15

*COMMENTARY: Lower daily swing highs are a concern for bulls with pressure

having returned to support layers following Friday's sell-off. Bears need a

close below $1.3300 to confirm focus on $1.3198-1.3253 where the bull channel

base, 55 & 100-DMAs and the Bollinger base ($1.3218) are situated. Bears need a

close below $1.3198 to shift focus to $1.2992-1.3037. Bulls need a close above

$1.3388 to ease bearish pressure and shift initial focus back to $1.3462-1.3459.