Decline Retests The Mid December Lows...>

CABLE TECHS: Decline Retests The Mid December Lows

*RES 4: $1.3492 May 22 high

*RES 3: $1.3443 May 23 high

*RES 2: $1.3414 Initial basing area May 22, now resistance

*RES 1: $1.3381/91 Hourly resistance, May 21 low

*PRICE: $1.3358 @0800GMT

*SUP 1: $1.3302/05 Dec 15, Dec 12 and May 23 lows

*SUP 2: $1.3258/69 Hourly support, Aug 3 high

*SUP 3: $1.3206/21 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 put the

downside under pressure again. With the subsequent loss of $1.3386 support,

Wednesday also saw the 76.4% Fibo retrace level at $1.3346 and the swing target

at $1.3329 give way. This sees the mid December lows at $1.3303-$1.3302 as next

protection lower. Resistance from beneath Tuesday's $1.3391 low but

$1.3414-$1.3443 tougher above. Loss of $1.3341-$1.3318 will concern again.