Rally Resisted By Upper 1% Volatility...>

CABLE TECHS: Rally Resisted By Upper 1% Volatility Band

*RES 4: $1.3570 May 17 high

*RES 3: $1.3520 76.4% Fibo of $1.3618-$1.3204

*RES 2: $1.3481/87 23.6% Fibo of $1.4377-$1.3204, May 4 low

*RES 1: $1.3450/73 Hourly resistance, 1% volatility band

*PRICE: $1.3429 @1520GMT

*SUP 1: $1.3362/71 Jun 1 high, intraday low

*SUP 2: $1.3333/48 Initial rally high Jun 5, May 31 high

*SUP 3: $1.3295 Jun 1 high, now support

*SUP 4: $1.3254 Jun 1 low

*COMMENTARY* Rally has moved through $1.3440-$1.3465 resistance today, coming to

rest at the upper 1% volatility band and just below the next levels of note

between $1.3481-$1.3487. Some near term overbought conditions are in need of

some correction but the subsequent move back below $1.3397 raises some concerns.

A low of $1.3371 seen before bouncing again but a failure to then deal with

$1.3450 will caution further. Above $1.3487 and $1.3520 is next target.