Recovers After Challenge To 6 Week......>

CABLE TECHS: Recovers After Challenge To 6 Week Bear Channel Base

*RES 4: $1.3269 Jul 17 high

*RES 3: $1.3214/17 76.4% Fibo of $1.3293-$1.2958, Jul 16 low

*RES 2: $1.3159/65 Jul 23 high, 61.8% Fibo of $1.3293-$1.2958

*RES 1: $1.3140 Hourly resistance

*PRICE: $1.3109 @0805GMT

*SUP 1: $1.3071 Intraday low

*SUP 2: $1.3050 Initial recovery high Jul 19, now support

*SUP 3: $1.2995 Jul 20 low

*SUP 4: $1.2958/65 Jul 19 low, 6 week bear channel base

*COMMENTARY* Last Thursday saw the base of the 6 week bear channel come under

pressure, a slight dip below, before rallying strongly on Friday. The recovery

aims to test resistance from $1.3165 next, any higher and the $1.3214-$1.3217

area comes back into view. As a consequence, support moves up accordingly.

Today's low of $1.3071 and then the  initial Jul 19 high at $1.3050. A loss of

the latter would concern again.