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Fresh Decline Tests The 76.4% Fibo......>

CABLE TECHS
CABLE TECHS: Fresh Decline Tests The 76.4% Fibo Retrace Level
*RES 4: $1.3492 May 22 high
*RES 3: $1.3443 Intraday high
*RES 2: $1.3415/20 Hourly resistance
*RES 1: $1.3391 May 21 low, now resistance
*PRICE: $1.3363 @0842GMT
*SUP 1: $1.3346/57 76.4% Fibo of $1.3027-$1.4377, 1% vol band
*SUP 2: $1.3329 1.618 swing of $1.3391-$1.3492
*SUP 3: $1.3302/03 Dec 15, Dec 12 lows
*SUP 4: $1.3220/21 2% volatility band, Nov 28 low
*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
are currently testing the 76.4% Fibo retrace level at $1.3346. Any lower and can
allow a $1.3329 overshoot, where the swing target of the $1.3391-$1.3492 rise
lies. Resistance from Tuesday's $1.3391 low and then from $1.3415-$1.3420 but
the day's $1.3443 high is a tougher prospect.

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