Decline Retests The Mid December Lows...>

CABLE TECHS: Decline Retests The Mid December Lows

*RES 4: $1.3443 Intraday high

*RES 3: $1.3414 Initial basing area May 22, now resistance

*RES 2: $1.3391 May 21 low, now resistance

*RES 1: $1.3365 Hourly resistance

*PRICE: $1.3347 @1612GMT

*SUP 1: $1.3302/03 Dec 15, Dec 12 lows

*SUP 2: $1.3269 Aug 3 high, now support

*SUP 3: $1.3218/21 2% volatility band, Nov 28 low

*SUP 4: $1.3152 76.4% Fibo of $1.2774-$1.4377

*COMMENTARY* Failure to deal with $1.3490-$1.3500 resistance on Tuesday has had

catastrophic results. With the subsequent loss of $1.3391-$1.3386 support, we

have today also lost the 76.4% Fibo retrace level at $1.3346 and the swing

target at $1.3329. This now sees the mid December lows at $1.3303-$1.3302 as

next support. Resistance from $1.3365 and then Tuesday's $1.3391 low but $1.3414

and then the day's $1.3443 high are tougher prospects.