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CABLE TECHS: Failure Below $1.3585 Heaps Pressure Back On The Downside
*RES 4: $1.3613 Jan 3 high
*RES 3: $1.3585/86 Jan 9, Jan 8 highs
*RES 2: $1.3562 Jan 10 high
*RES 1: $1.3530/40 Hourly resistance
*PRICE: $1.3491 @0950GMT
*SUP 1: $1.3457/67 Dec 28, Dec 14 highs, now support
*SUP 2: $1.3419/21 Dec 18, Dec 20 highs, now support
*SUP 3: $1.3400 1% volatility band
*SUP 4: $1.3376 76.4% Fibo of $1.3302-$1.3613
*COMMENTARY* The failure to move back above $1.3585 resistance has been the
catalyst for the subsequent fall, which by losing previous $1.3482 support, now
puts pressure on the $1.3467-$1.3457 area. Ideally have to hold above here in
order to retain recent upside momentum, garnered since the hold at $1.3302 last
month. Loss would open way for $1.3421-$1.3376 next. In the meantime,
$1.3530-$1.3562 stands in the way of any recovery.