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CABLE TECHS: Correction Reaches The 50% Fibo Retrace Level
*RES 4: $1.3255 76.4% Fibo of $1.3322-$1.3039
*RES 3: $1.3240 Nov 1 low, now resistance
*RES 2: $1.3214 61.8% Fibo of $1.3322-$1.3039
*RES 1: $1.3180 50% Fibo of $1.3322-$1.3039
*PRICE: $1.3138 @1635GMT
*SUP 1: $1.3109/15 Intraday low, hourly support
*SUP 2: $1.3070 Congestion area Nov 3-Nov 6
*SUP 4: $1.2983 76.4% Fibo of $1.2774-$1.3659
*COMMENTARY* Recovery continued on Monday, the rally approaching the 50% Fibo
retrace level at $1.3180, before encountering some near term overbought
conditions. In this respect, the $1.3115 region is anticipated to provide
initial support and protection against a slip back towards $1.3070. A hold of
the latter is important to any further recovery plans. Above $1.3180 and the
correction can continue, $1.3214 the next target.