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: $1.3418 High Dec 18

*PRICE: $1.3381 @ 0530GMT

*SUP 1: $1.3359 Hourly support Dec 19 

*SUP 2: $1.3300 Low Dec 15 

*SUP 3: $1.3257 55-DMA 

*SUP 4: $1.3200 100-DMA, Daily bull channel base

*COMMENTARY: Bulls take comfort in yet another bounce from around the $1.3300

level but lower daily highs on bounces are less than ideal. Bears continue to

look for a close below $1.3200 to confirm breaks of key DMAs and the bull

channel base, shifting focus to $1.2992-1.3037 where the 200-DMA ($1.2999) is

located. Bulls now need a close above $1.3462 to confirm an easing of bearish

pressure and above $1.3549 to confirm focus on tests of 2017 highs ($1.3656).