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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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CABLE TECHS: Correcting After Move Back Towards The Oct 6 Base At $1.3027
*RES 4: $1.3240 Nov 1 low, now resistance
*RES 3: $1.3214 61.8% Fibo of $1.3322-$1.3039
*RES 2: $1.3180 50% Fibo of $1.3322-$1.3039
*RES 1: $1.3134/47 Nov 3 high, 38.2% Fibo of $1.3322-$1.3039
*PRICE: $1.3123 @1630GMT
*SUP 1: $1.3055/60 Hourly support
*SUP 2: $1.3027/39 Oct 6, Nov 3 lows
*SUP 3: $1.2983 76.4% Fibo of $1.2774-$1.3659
*SUP 4: $1.2963 38.2% Fibo of $1.1838-$1.3659
*COMMENTARY* Rally reached $1.3322 last Wednesday, just shy of $1.3338-$1.3343,
the Oct 13 high and a 50% Fibo retrace level. As a result, we have subsequently
seen a sharp fall which has taken us nearly back to the Oct 6 base at $1.3027. A
low of $1.3039 before encountering some near term oversold conditions. The move
back above $1.3080-$1.3100 allows some correction, $1.3147 next. Support from
$1.3055-60 protects $1.3027 and potentially the congested $1.2983-$1.2963 area.

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