Recovers Well After Challenge To 6......>

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

*RES 4: $1.3293 Jul 16 high

*RES 3: $1.3269 Jul 17 high

*RES 2: $1.3214/17 76.4% Fibo of $1.3293-$1.2958, Jul 16 low

*RES 1: $1.3165/75 61.8% $1.3293-$1.2958, hourly resistance

*PRICE: $1.3155 @0753GMT

*SUP 1: $1.3084 Jul 19 high, now support

*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-$1.3175 next, any higher and the

$1.3214-$1.3217 area comes back into view. As a consequence, support moves up

accordingly. The first levels of note coming from the Jul 19 high at $1.3084 and

then $1.3050. A loss of the latter would concern again.