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

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

*RES 4: $1.3301 1.618 swing of $1.3228-$1.3110

*RES 3: $1.3279/80 76.4% of $1.3338-$1.3088, intraday high

*RES 2: $1.3245/55 Hourly congestion area Oct 25

*RES 1: $1.3210/20 Hourly resistance

*PRICE: $1.3178 @1602GMT

*SUP 1: $1.3158 Oct 23 low

*SUP 2: $1.3140 Initial recovery Oct 25, now support

*SUP 3: $1.3110 Oct 25 low

*SUP 4: $1.3076/88 1% volatility band, Oct 20 low

*COMMENTARY* The move above $1.3165 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 saw the 76.4% Fibo retrace level at $1.3279 frustrate gains. The

subsequent fall below $1.3200 cautions in the near term now. This leaves the

$1.3158-$1.3140 area to protect the downside against a $1.3110-$1.3088 return.

Meanwhile, $1.3210-$1.3255 now provides resistance.