Correction Runs Out Of Steam At 76.4%...>

CABLE TECHS: Correction Runs Out Of Steam At 76.4% Fibo Retrace Level

*RES 4: $1.3343 50% of $1.3659-$1.3027, 1% vol band

*RES 3: $1.3338 Oct 13 high

*RES 2: $1.3301 1.618 swing of $1.3228-$1.3110

*RES 1: $1.3279 76.4% Fibo of $1.3338-$1.3088

*PRICE: $1.3215 @0906GMT

*SUP 1: $1.3200/10 Hourly support

*SUP 2: $1.3158 Oct 23 low

*SUP 3: $1.3140 Initial recovery Oct 25, now support

*SUP 4: $1.3110 Oct 25 low

*COMMENTARY* The move above $1.3165 has started a correction, initially of the

losses seen since the Oct 13 high at $1.3338. With the move back above

$1.3228-29 this now sees the 76.4% Fibo retrace level at $1.3279 as the next

resistance to note. In the meantime, support rises to $1.3200-10, a hold above

here would increase the chances of further gains, with $1.3301-$1.3343 the next

area of interest higher. Below $1.3200 would caution in the near term now.